Scientech Research LLC Acquires Shares of 233,792 TeraWulf Inc. (NASDAQ:WULF)

Scientech Research LLC bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 233,792 shares of the company’s stock, valued at approximately $1,040,000. Scientech Research LLC owned about 0.07% of TeraWulf at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WULF. The Manufacturers Life Insurance Company grew its position in TeraWulf by 60.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,319 shares of the company’s stock worth $389,000 after purchasing an additional 33,058 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of TeraWulf during the second quarter worth about $9,301,000. AQR Capital Management LLC grew its holdings in shares of TeraWulf by 192.3% during the second quarter. AQR Capital Management LLC now owns 244,816 shares of the company’s stock worth $1,089,000 after buying an additional 161,061 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in TeraWulf in the 2nd quarter valued at about $22,443,000. Finally, Xponance Inc. purchased a new stake in TeraWulf during the 2nd quarter valued at approximately $65,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Down 2.6 %

NASDAQ:WULF opened at $4.94 on Friday. The firm’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $3.49. TeraWulf Inc. has a fifty-two week low of $0.89 and a fifty-two week high of $6.51.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share 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 for the quarter, compared to analyst estimates of $35.73 million. As a group, analysts forecast that TeraWulf Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WULF. Rosenblatt Securities boosted their target price on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC started coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective on the stock. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Finally, B. Riley reissued a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $5.71.

TeraWulf Company 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.