The Manufacturers Life Insurance Company Acquires 33,058 Shares of TeraWulf Inc. (NASDAQ:WULF)

The Manufacturers Life Insurance Company raised its position in TeraWulf Inc. (NASDAQ:WULF) by 60.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,319 shares of the company’s stock after acquiring an additional 33,058 shares during the period. The Manufacturers Life Insurance Company’s holdings in TeraWulf were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC purchased a new position in shares of TeraWulf during the first quarter worth $29,000. Amalgamated Bank raised its stake in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. purchased a new stake in TeraWulf during the 2nd quarter worth approximately $44,000. Finally, PEAK6 Investments LLC purchased a new stake in TeraWulf during the 1st quarter worth approximately $64,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Performance

NASDAQ:WULF opened at $5.20 on Thursday. TeraWulf Inc. has a twelve month low of $0.89 and a twelve month high of $6.51. The firm has a 50-day moving average price of $4.31 and a two-hundred day moving average price of $3.70.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. On average, equities analysts anticipate that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Rosenblatt Securities restated a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $5.71.

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.