TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC lowered its holdings in TeraWulf Inc. (NASDAQ:WULF) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,000 shares of the company’s stock after selling 20,000 shares during the period. Sargent Investment Group LLC owned approximately 0.05% of TeraWulf worth $801,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC grew its position in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after acquiring an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of TeraWulf by 97.8% during the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of TeraWulf by 20.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock worth $2,034,000 after purchasing an additional 76,714 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of TeraWulf in the first quarter valued at $204,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 7.1 %

Shares of WULF opened at $3.94 on Tuesday. The firm has a 50-day moving average price of $4.43 and a 200 day moving average price of $3.33. TeraWulf Inc. has a 52-week low of $0.89 and a 52-week high of $6.51.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. As a group, sell-side analysts predict that TeraWulf Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WULF. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Tuesday, September 3rd. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Roth Mkm reissued a “buy” rating and set a $6.50 price target on shares of TeraWulf in a research report on Monday, July 8th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research report on Monday, August 26th. Finally, Needham & Company LLC assumed coverage on TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TeraWulf has an average rating of “Buy” and an average target price of $5.71.

About TeraWulf

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.