FNY Investment Advisers LLC Takes Position in TeraWulf Inc. $WULF

Key Points

• FNY Investment Advisers LLC purchased 112,350 shares of TeraWulf Inc. for around $492,000 during the second quarter, reflecting growing institutional interest in the company.
• Director Amanda Fabiano sold 4,600 shares at an average price of $8.64, reducing her ownership by 10.14% to approximately 40,769 shares.
• Analysts have a mixed outlook, with two giving a Strong Buy rating and others offering ratings ranging from Buy to Sell, highlighting a consensus price target of $12.81.

FNY Investment Advisers LLC bought a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 112,350 shares of the company's stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WULF. Vanguard Group Inc. lifted its position in shares of TeraWulf by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock worth $65,193,000 after buying an additional 534,315 shares during the last quarter. Hodges Capital Management Inc. lifted its position in shares of TeraWulf by 17,747.4% during the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock worth $9,745,000 after purchasing an additional 3,549,479 shares during the last quarter. Millennium Management LLC lifted its position in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the last quarter. Vident Advisory LLC lifted its position in shares of TeraWulf by 15.5% during the 1st quarter. Vident Advisory LLC now owns 2,366,242 shares of the company's stock worth $6,460,000 after purchasing an additional 318,166 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TeraWulf by 13.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,613,634 shares of the company's stock worth $4,405,000 after purchasing an additional 186,541 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

Insider Buying and Selling at TeraWulf

In other news, Director Amanda Fabiano sold 4,600 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the sale, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WULF shares. Compass Point started coverage on TeraWulf in a research report on Monday, September 15th. They set a "buy" rating for the company. Rosenblatt Securities boosted their price objective on TeraWulf from $14.50 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. Citigroup reissued a "market outperform" rating on shares of TeraWulf in a research report on Tuesday. Northland Securities set a $16.25 price objective on TeraWulf in a research report on Friday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of TeraWulf in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $12.81.

TeraWulf Trading Down 5.1%

TeraWulf stock opened at $13.14 on Wednesday. The business has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $6.37. 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 stock has a market cap of $5.36 billion, a price-to-earnings ratio of -37.54 and a beta of 3.44. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $16.19.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. During the same period last year, the company earned ($0.03) EPS. The company's revenue was up 33.9% on a year-over-year basis. As a group, equities analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current year.

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.

Want to see what other hedge funds are holding WULF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TeraWulf Inc. (NASDAQ:WULF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.