TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lowered its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 36.1% during the third quarter, Holdings Channel reports. The firm owned 77,422 shares of the company’s stock after selling 43,801 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in TeraWulf were worth $362,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of TeraWulf during the second quarter worth about $22,443,000. Hood River Capital Management LLC acquired a new stake in shares of TeraWulf during the second quarter worth about $20,532,000. Driehaus Capital Management LLC acquired a new position in TeraWulf in the 2nd quarter valued at about $9,948,000. Finally, Duquesne Family Office LLC acquired a new position in TeraWulf in the 2nd quarter valued at about $9,301,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WULF shares. Stifel Canada cut 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 target on shares of TeraWulf in a research report on Thursday, October 3rd. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price target on shares of TeraWulf in a research report on Tuesday, October 8th. B. Riley restated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Finally, Needham & Company LLC initiated coverage on TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.17.

TeraWulf Stock Up 7.0 %

Shares of WULF opened at $8.21 on Friday. The stock’s 50 day moving average is $4.96 and its two-hundred day moving average is $4.13. TeraWulf Inc. has a twelve month low of $0.89 and a twelve month high of $8.33.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. As a group, analysts anticipate that TeraWulf Inc. will post -0.1 earnings per share 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.