Principal Financial Group Inc. Has $99,000 Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Principal Financial Group Inc. cut its holdings in TeraWulf Inc. (NASDAQ:WULF) by 30.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,221 shares of the company’s stock after selling 9,308 shares during the period. Principal Financial Group Inc.’s holdings in TeraWulf were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Aspect Partners LLC bought a new position in TeraWulf in the third quarter valued at approximately $26,000. Amalgamated Bank lifted its holdings in TeraWulf by 57.7% during the 2nd 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 last quarter. ARS Investment Partners LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $44,000. Pekin Hardy Strauss Inc. bought a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. Finally, Creative Planning bought a new position in shares of TeraWulf during the third quarter worth approximately $54,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $6.57 on Wednesday. The firm has a 50 day moving average of $5.90 and a 200-day moving average of $4.65. TeraWulf Inc. has a 12 month low of $1.16 and a 12 month high of $9.30.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WULF. Needham & Company LLC boosted their price target on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Northland Securities raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $7.21.

About TeraWulf

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.