Vontobel Holding Ltd. Has $190,000 Position in TeraWulf Inc. (NASDAQ:WULF)

Vontobel Holding Ltd. decreased its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 60.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,612 shares of the company’s stock after selling 61,553 shares during the period. Vontobel Holding Ltd.’s holdings in TeraWulf were worth $190,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in shares of TeraWulf in the 2nd quarter worth about $22,443,000. Hood River Capital Management LLC purchased a new stake in shares of TeraWulf in the second quarter worth approximately $20,532,000. Van ECK Associates Corp raised its stake in shares of TeraWulf by 50.8% in the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after purchasing an additional 2,268,870 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of TeraWulf in the second quarter valued at approximately $9,948,000. Finally, Duquesne Family Office LLC purchased a new position in shares of TeraWulf during the second quarter valued at approximately $9,301,000. 62.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WULF. Stifel Canada upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. 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 objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Finally, Roth Mkm reissued a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $6.17.

TeraWulf Stock Performance

Shares of WULF stock opened at $6.40 on Thursday. The firm’s 50 day moving average is $4.48 and its 200 day moving average is $3.80. TeraWulf Inc. has a 12 month low of $0.89 and a 12 month high of $6.58.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. On average, equities research analysts predict that TeraWulf Inc. will post -0.1 earnings per share for the current year.

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.