TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC trimmed its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 26.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,336 shares of the company’s stock after selling 98,365 shares during the period. Cubist Systematic Strategies LLC’s holdings in TeraWulf were worth $1,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank lifted its stake 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 acquiring an additional 2,912 shares during the period. ARS Investment Partners LLC acquired a new stake in TeraWulf during the 2nd quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. acquired a new stake in TeraWulf during the 2nd quarter valued at approximately $44,000. Miracle Mile Advisors LLC acquired a new stake in TeraWulf during the 1st quarter valued at approximately $29,000. Finally, Xponance Inc. acquired a new stake in TeraWulf during the 2nd quarter valued at approximately $65,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, September 3rd. Needham & Company LLC started coverage on shares of TeraWulf in a report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Finally, Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $5.71.

TeraWulf Stock Down 7.5 %

TeraWulf stock opened at $4.33 on Wednesday. TeraWulf Inc. has a 52-week low of $0.89 and a 52-week high of $6.51. The company has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $3.55.

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 business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. Equities analysts anticipate that TeraWulf Inc. will post -0.11 EPS for the current fiscal year.

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.