TRU Independence Asset Management 2 LLC Makes New Investment in TeraWulf Inc. (NASDAQ:WULF)

TRU Independence Asset Management 2 LLC acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $234,000.

Several other large investors have also recently added to or reduced their stakes in WULF. Point72 Asset Management L.P. bought a new stake in TeraWulf during the second quarter worth about $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf during the second quarter worth about $20,532,000. Driehaus Capital Management LLC bought a new stake in TeraWulf during the second quarter worth about $9,948,000. Duquesne Family Office LLC bought a new stake in TeraWulf during the second quarter worth about $9,301,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of TeraWulf during the third quarter worth approximately $9,489,000. 62.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. Needham & Company LLC started coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Six equities 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, the company presently has an average rating of “Buy” and an average target price of $6.17.

TeraWulf Trading Up 0.5 %

WULF opened at $8.25 on Monday. The firm’s fifty day moving average is $5.12 and its two-hundred day moving average is $4.22. TeraWulf Inc. has a twelve month low of $0.89 and a twelve month high of $8.40.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $35.57 million for the quarter, compared to the consensus estimate 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, equities analysts expect that TeraWulf Inc. will post -0.1 earnings per share for the current year.

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.