Bank of New York Mellon Corp Has $3.76 Million Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Bank of New York Mellon Corp increased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 97.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 844,292 shares of the company’s stock after acquiring an additional 417,369 shares during the quarter. Bank of New York Mellon Corp’s holdings in TeraWulf were worth $3,757,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC acquired a new stake in TeraWulf during the 1st quarter valued at $29,000. Partners Capital Investment Group LLP purchased a new stake in TeraWulf in the 4th quarter worth about $29,000. Financial Advocates Investment Management acquired a new stake in TeraWulf during the 4th quarter worth about $39,000. ARS Investment Partners LLC purchased a new position in TeraWulf during the 2nd quarter valued at about $44,000. Finally, PEAK6 Investments LLC acquired a new position in shares of TeraWulf in the 1st quarter valued at about $64,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Down 1.6 %

WULF stock opened at $4.24 on Friday. TeraWulf Inc. has a 1 year low of $0.89 and a 1 year high of $6.51. The company has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $3.31.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. As a group, sell-side analysts forecast that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WULF has been the topic of a number of research analyst reports. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Roth Mkm reiterated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Rosenblatt Securities boosted their target price on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and a consensus target price 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.