Arizona State Retirement System Takes Position in TeraWulf Inc. (NASDAQ:WULF)

Arizona State Retirement System acquired a new stake in TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 63,472 shares of the company’s stock, valued at approximately $282,000.

Other institutional investors have also modified their holdings of the company. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf in the first quarter valued at $29,000. Partners Capital Investment Group LLP acquired a new stake in shares of TeraWulf during the fourth quarter worth $29,000. Financial Advocates Investment Management acquired a new stake in shares of TeraWulf during the fourth quarter worth $39,000. ARS Investment Partners LLC acquired a new stake in shares of TeraWulf during the second quarter worth $44,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of TeraWulf during the first quarter worth $64,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Price Performance

NASDAQ:WULF opened at $4.07 on Wednesday. TeraWulf Inc. has a 1-year low of $0.89 and a 1-year high of $6.51. The business’s fifty day moving average price is $4.41 and its 200 day moving average price is $3.35.

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 firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. Analysts predict that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, September 3rd. Roth Mkm reaffirmed a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th. Roth Capital raised TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Needham & Company LLC assumed coverage on TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Rosenblatt Securities boosted their target price on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently 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.