Creative Planning Invests $54,000 in TeraWulf Inc. (NASDAQ:WULF)

Creative Planning purchased a new position in TeraWulf Inc. (NASDAQ:WULF) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,591 shares of the company’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares in the last quarter. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf in the second quarter worth about $44,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf in the second quarter worth about $44,000. Xponance Inc. purchased a new stake in shares of TeraWulf in the second quarter worth about $65,000. Finally, Fiduciary Alliance LLC purchased a new stake in shares of TeraWulf in the third quarter worth about $75,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Trading Down 13.9 %

Shares of NASDAQ WULF opened at $7.35 on Thursday. TeraWulf Inc. has a one year low of $0.91 and a one year high of $9.30. The firm’s 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $4.31.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. The business had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. On average, equities analysts anticipate that TeraWulf Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Needham & Company LLC upped their price objective on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Seven 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.21.

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.