Cubist Systematic Strategies LLC Makes New $2.18 Million Investment in TeraWulf Inc. $WULF

Key Points

• Cubist Systematic Strategies LLC acquired 798,918 shares of TeraWulf Inc., valued at approximately $2.18 million, constituting around 0.21% ownership in the company as of the latest quarter.
• Several institutional investors, including Comerica Bank and Caldamos Advisors LLC, have increased their stakes in TeraWulf, pushing hedge funds and institutions to hold 62.49% of the stock.
• Analysts are optimistic about TeraWulf's growth, with multiple firms raising their price targets, resulting in an average consensus price target of $11.22.

Cubist Systematic Strategies LLC bought a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 798,918 shares of the company's stock, valued at approximately $2,181,000. Cubist Systematic Strategies LLC owned 0.21% of TeraWulf at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC lifted its holdings in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after purchasing an additional 3,054 shares in the last quarter. Voya Investment Management LLC raised its position in shares of TeraWulf by 4.8% in the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock valued at $446,000 after purchasing an additional 3,628 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in TeraWulf by 18.5% in the 1st quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock worth $86,000 after buying an additional 4,920 shares during the period. SG Americas Securities LLC lifted its position in shares of TeraWulf by 6.2% during the 1st quarter. SG Americas Securities LLC now owns 130,322 shares of the company's stock valued at $356,000 after buying an additional 7,597 shares in the last quarter. Finally, Florida Financial Advisors LLC boosted its stake in TeraWulf by 65.1% during the 1st quarter. Florida Financial Advisors LLC now owns 21,280 shares of the company's stock worth $58,000 after purchasing an additional 8,392 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

WULF traded up $1.10 on Tuesday, hitting $10.30. The company's stock had a trading volume of 68,762,927 shares, compared to its average volume of 63,506,424. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $10.71. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96. The firm has a market cap of $4.20 billion, a P/E ratio of -29.43 and a beta of 3.36. The company's 50 day simple moving average is $6.67 and its 200-day simple moving average is $4.52.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company's revenue for the quarter was up 33.9% on a year-over-year basis. Analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on WULF. Wall Street Zen lowered shares of TeraWulf from a "hold" rating to a "sell" rating in a report on Sunday, August 24th. Rosenblatt Securities raised their price target on TeraWulf from $10.50 to $12.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Roth Capital raised their price target on TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a research note on Friday, August 15th. JMP Securities boosted their price target on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a research report on Friday, August 15th. Finally, B. Riley boosted their price target on TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and an average price target of $11.22.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the transaction, the director owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.48% of the stock is owned by corporate insiders.

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.