GM Advisory Group LLC Sells 1,631,867 Shares of TeraWulf Inc. (NASDAQ:WULF)

GM Advisory Group LLC reduced its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 87.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,804 shares of the company's stock after selling 1,631,867 shares during the period. GM Advisory Group LLC owned 0.06% of TeraWulf worth $1,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company's stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the period. SG Americas Securities LLC lifted its stake in shares of 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 buying an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 buying an additional 417,369 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of TeraWulf during the second quarter worth about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of TeraWulf by 43.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company's stock worth $3,073,000 after acquiring an additional 199,345 shares during the last quarter. 62.49% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WULF. Rosenblatt Securities reiterated a "buy" rating and set a $5.00 price target on shares of TeraWulf in a research note on Tuesday, October 8th. B. Riley reaffirmed a "buy" rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Needham & Company LLC increased their price target on TeraWulf from $6.00 to $9.50 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, October 3rd. Finally, Northland Securities upped their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Buy" and an average price target of $7.21.

TeraWulf Trading Up 6.6 %

Shares of NASDAQ WULF traded up $0.46 during mid-day trading on Friday, reaching $7.45. 25,819,815 shares of the company's stock were exchanged, compared to its average volume of 21,280,941. The firm has a 50-day moving average price of $5.73 and a two-hundred day moving average price of $4.52. TeraWulf Inc. has a 52 week low of $1.07 and a 52 week high of $9.30.

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.