Principal Financial Group Inc. Trims Stake in TeraWulf Inc. (NASDAQ:WULF)

Principal Financial Group Inc. trimmed its position in TeraWulf Inc. (NASDAQ:WULF) by 30.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,221 shares of the company’s stock after selling 9,308 shares during the quarter. Principal Financial Group Inc.’s holdings in TeraWulf were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WULF. Point72 Asset Management L.P. purchased a new stake in TeraWulf in the second quarter worth about $22,443,000. Hood River Capital Management LLC bought a new stake in shares of TeraWulf in the 2nd quarter valued at about $20,532,000. Driehaus Capital Management LLC bought a new stake in shares of TeraWulf in the 2nd quarter valued at about $9,948,000. Duquesne Family Office LLC purchased a new stake in shares of TeraWulf in the 2nd quarter worth approximately $9,301,000. Finally, Zweig DiMenna Associates LLC bought a new position in shares of TeraWulf during the third quarter valued at approximately $9,489,000. Institutional investors own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WULF shares. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Northland Securities restated an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research note on Sunday. Needham & Company LLC boosted their target price on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Performance

Shares of WULF stock opened at $6.13 on Wednesday. TeraWulf Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $9.30. The stock’s 50-day simple moving average is $6.97 and its 200-day simple moving average is $5.48.

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.