TeraWulf Inc. (NASDAQ:WULF) Position Lowered by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 93.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 341,898 shares of the company’s stock after selling 4,701,383 shares during the period. Point72 Asset Management L.P. owned about 0.09% of TeraWulf worth $1,600,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Hood River Capital Management LLC bought a new position in TeraWulf in the second quarter worth about $20,532,000. Charles Schwab Investment Management Inc. lifted its holdings in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares during the last quarter. Driehaus Capital Management LLC bought a new position in TeraWulf in the second quarter worth about $9,948,000. Duquesne Family Office LLC bought a new position in TeraWulf in the second quarter worth about $9,301,000. Finally, Zweig DiMenna Associates LLC bought a new position in TeraWulf in the third quarter worth about $9,489,000. Institutional investors own 62.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WULF. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Wednesday, December 4th. Northland Securities raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, B. Riley reiterated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TeraWulf has an average rating of “Buy” and an average target price of $8.07.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $6.72 on Wednesday. TeraWulf Inc. has a 1-year low of $1.24 and a 1-year high of $9.30. The company has a 50 day moving average price of $6.41 and a 200 day moving average price of $5.00.

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.