Point72 Asset Management L.P. Has $1.60 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Point72 Asset Management L.P. lowered its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 93.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 341,898 shares of the company’s stock after selling 4,701,383 shares during the period. Point72 Asset Management L.P.’s holdings in TeraWulf were worth $1,600,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Concentric Capital Strategies LP boosted its stake in shares of TeraWulf by 72.8% during the 3rd quarter. Concentric Capital Strategies LP now owns 372,451 shares of the company’s stock valued at $1,743,000 after buying an additional 156,905 shares during the period. Capstone Investment Advisors LLC raised its holdings in shares of TeraWulf by 85.3% during the 3rd quarter. Capstone Investment Advisors LLC now owns 50,000 shares of the company’s stock valued at $234,000 after purchasing an additional 23,019 shares in the last quarter. FMR LLC raised its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of TeraWulf by 66.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock valued at $681,000 after purchasing an additional 58,235 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Trading Down 7.8 %

Shares of WULF opened at $6.72 on Wednesday. TeraWulf Inc. has a one year low of $1.24 and a one year high of $9.30. The company’s fifty day moving average price is $6.41 and its 200 day moving average price is $5.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WULF shares. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, December 5th. B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, October 7th. 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 report on Wednesday, November 13th. Finally, Needham & Company LLC lifted 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. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.07.

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.