Sargent Investment Group LLC Acquires 21,040 Shares of TeraWulf Inc. (NASDAQ:WULF)

Sargent Investment Group LLC grew its stake in TeraWulf Inc. (NASDAQ:WULF) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,040 shares of the company’s stock after purchasing an additional 21,040 shares during the quarter. Sargent Investment Group LLC’s holdings in TeraWulf were worth $941,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in WULF. Point72 Asset Management L.P. purchased a new stake in TeraWulf in the 2nd quarter worth $22,443,000. Hood River Capital Management LLC purchased a new stake in shares of TeraWulf during the second quarter valued at $20,532,000. Driehaus Capital Management LLC acquired a new position in shares of TeraWulf in the 2nd quarter valued at about $9,948,000. Duquesne Family Office LLC purchased a new position in TeraWulf in the 2nd quarter valued at about $9,301,000. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of TeraWulf during the 3rd quarter worth $9,489,000. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WULF has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Needham & Company LLC boosted their target price on TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. 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, Northland Securities raised their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $7.21.

TeraWulf Stock Performance

Shares of TeraWulf stock traded down $0.24 during midday trading on Thursday, hitting $7.11. The company’s stock had a trading volume of 12,127,951 shares, compared to its average volume of 21,156,039. The stock has a 50-day simple moving average of $5.37 and a 200-day simple moving average of $4.33. TeraWulf Inc. has a 1-year low of $0.94 and a 1-year high of $9.30.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.1 EPS for the current fiscal 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.