Zweig DiMenna Associates LLC Takes $9.49 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Zweig DiMenna Associates LLC purchased a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,027,500 shares of the company's stock, valued at approximately $9,489,000. Zweig DiMenna Associates LLC owned about 0.61% of TeraWulf at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jade Capital Advisors LLC acquired a new position in TeraWulf during the 3rd quarter worth $374,000. Avaii Wealth Management LLC bought a new stake in TeraWulf during the 3rd quarter valued at approximately $132,000. Aspect Partners LLC bought a new position in TeraWulf in the 3rd quarter worth approximately $26,000. Creative Planning acquired a new position in shares of TeraWulf during the third quarter worth approximately $54,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of TeraWulf in the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Stock Up 2.7 %

WULF traded up $0.17 during mid-day trading on Friday, reaching $6.38. The stock had a trading volume of 40,243,010 shares, compared to its average volume of 20,643,436. The firm's fifty day simple moving average is $4.59 and its two-hundred day simple moving average is $3.84. TeraWulf Inc. has a 52 week low of $0.89 and a 52 week high of $6.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. On average, analysts predict that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WULF. Roth Capital raised shares of TeraWulf to a "strong-buy" rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. Roth Mkm reiterated a "buy" rating and set a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, 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. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of "Buy" and a consensus target price of $6.17.

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.