Millennium Management LLC Sells 762,683 Shares of TeraWulf Inc. (NASDAQ:WULF)

Millennium Management LLC decreased its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,997,490 shares of the company's stock after selling 762,683 shares during the period. Millennium Management LLC owned about 1.20% of TeraWulf worth $17,789,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WULF. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf during the first quarter valued at approximately $29,000. Amalgamated Bank lifted its stake in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company's stock worth $35,000 after purchasing an additional 2,912 shares during the period. ARS Investment Partners LLC acquired a new stake in TeraWulf during the second quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. bought a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $44,000. Finally, PEAK6 Investments LLC acquired a new position in shares of TeraWulf in the 1st quarter worth approximately $64,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Stock Performance

Shares of TeraWulf stock traded down $0.31 during midday trading on Friday, reaching $4.40. The company had a trading volume of 27,288,541 shares, compared to its average volume of 19,977,979. The stock has a fifty day simple moving average of $4.24 and a 200 day simple moving average of $3.60. TeraWulf Inc. has a 1-year low of $0.89 and a 1-year high of $6.51.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm 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 41.67% and a negative return on equity of 19.77%. Sell-side analysts predict that TeraWulf Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC assumed coverage on TeraWulf in a research note on Wednesday, September 4th. They issued a "buy" rating and a $6.00 price target on the stock. B. Riley restated a "buy" rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, August 26th. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 target price on shares of TeraWulf in a research report on Thursday. Roth Mkm reissued a "buy" rating and set a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Finally, Rosenblatt Securities upped their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $5.71.

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.