GM Advisory Group LLC Sells 1,631,867 Shares of TeraWulf Inc. (NASDAQ:WULF)

GM Advisory Group LLC decreased its stake in TeraWulf Inc. (NASDAQ:WULF) by 87.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,804 shares of the company’s stock after selling 1,631,867 shares during the period. GM Advisory Group LLC’s holdings in TeraWulf were worth $1,146,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings 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 during the last quarter. SG Americas Securities LLC grew its holdings in TeraWulf by 260.8% during the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after acquiring an additional 139,722 shares during the last quarter. Bank of New York Mellon Corp increased its position in TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after acquiring an additional 417,369 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of TeraWulf during the second quarter valued at $1,095,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TeraWulf by 43.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after purchasing an additional 199,345 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC lifted their price objective on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Finally, 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. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $7.21.

TeraWulf Trading Down 2.3 %

NASDAQ:WULF opened at $7.03 on Friday. TeraWulf Inc. has a twelve month low of $1.01 and a twelve month high of $9.30. The company has a fifty day moving average of $5.73 and a 200-day moving average of $4.52.

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.