TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in TeraWulf Inc. (NASDAQ:WULF) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,997,490 shares of the company’s stock after selling 762,683 shares during the quarter. Millennium Management LLC owned about 1.20% of TeraWulf worth $17,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC purchased a new position in shares of TeraWulf during the first quarter worth about $29,000. Amalgamated Bank increased its holdings in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of TeraWulf during the second quarter worth $44,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of TeraWulf during the first quarter worth $64,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Rosenblatt Securities raised their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC assumed coverage on TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday. Finally, B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus price target of $5.71.

TeraWulf Stock Performance

Shares of WULF opened at $4.40 on Friday. TeraWulf Inc. has a 12-month low of $0.89 and a 12-month high of $6.51. The company has a 50-day moving average of $4.24 and a two-hundred day moving average of $3.59.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. On average, equities research analysts expect that TeraWulf Inc. will post -0.11 earnings per share for the current year.

TeraWulf Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.