P Schoenfeld Asset Management LP Purchases Shares of 1,000,000 TeraWulf Inc. (NASDAQ:WULF)

P Schoenfeld Asset Management LP purchased a new position in TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $4,450,000. TeraWulf accounts for approximately 1.1% of P Schoenfeld Asset Management LP’s holdings, making the stock its 16th biggest position. P Schoenfeld Asset Management LP owned about 0.30% of TeraWulf at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Hood River Capital Management LLC purchased a new position in shares of TeraWulf during the second quarter worth $20,532,000. Sei Investments Co. lifted its holdings in shares of TeraWulf by 501.5% in the 2nd quarter. Sei Investments Co. now owns 189,336 shares of the company’s stock valued at $843,000 after buying an additional 157,860 shares during the period. Hollencrest Capital Management purchased a new stake in shares of TeraWulf in the second quarter worth about $265,000. GM Advisory Group LLC grew its holdings in TeraWulf by 179.5% during the second quarter. GM Advisory Group LLC now owns 1,876,671 shares of the company’s stock worth $8,351,000 after acquiring an additional 1,205,187 shares during the period. Finally, Amalgamated Bank raised its position in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Performance

WULF opened at $4.50 on Monday. TeraWulf Inc. has a 52 week low of $0.89 and a 52 week high of $6.51. The business has a fifty day simple moving average of $4.37 and a 200-day simple moving average of $3.39.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WULF. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, August 26th. Roth Mkm reissued a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Needham & Company LLC began 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. Rosenblatt Securities upped their price target on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.