Point72 Asset Management L.P. Has $1.60 Million Stock Holdings in TeraWulf Inc. (NASDAQ:WULF)

Point72 Asset Management L.P. lessened its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 93.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 341,898 shares of the company's stock after selling 4,701,383 shares during the period. Point72 Asset Management L.P. owned 0.09% of TeraWulf worth $1,600,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Hood River Capital Management LLC acquired a new position in TeraWulf during the 2nd quarter worth about $20,532,000. Driehaus Capital Management LLC bought a new position in shares of TeraWulf during the second quarter worth about $9,948,000. Duquesne Family Office LLC bought a new position in shares of TeraWulf during the second quarter worth about $9,301,000. Zweig DiMenna Associates LLC acquired a new position in shares of TeraWulf in the third quarter worth approximately $9,489,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company's stock valued at $11,063,000 after acquiring an additional 1,704,013 shares during the last quarter. Institutional investors own 62.49% of the company's stock.

TeraWulf Price Performance

Shares of WULF stock traded up $0.49 on Wednesday, reaching $7.21. 22,291,410 shares of the company were exchanged, compared to its average volume of 21,403,217. The company has a 50-day moving average of $6.45 and a 200-day moving average of $5.03. TeraWulf Inc. has a one year low of $1.24 and a one year high of $9.30.

Analysts Set New Price Targets

WULF has been the subject of several analyst reports. Stifel Canada lowered shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, October 29th. B. Riley reissued a "buy" rating and set a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Needham & Company LLC boosted their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a "buy" rating in a report on Wednesday, November 13th. Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $8.07.

TeraWulf Company 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.