Cresset Asset Management LLC Increases Holdings in TeraWulf Inc. $WULF

Key Points

• Cresset Asset Management LLC significantly increased its holding in TeraWulf Inc. by 3,930.6%, purchasing an additional 858,837 shares in the first quarter, bringing its total to 880,687 shares worth approximately $2.4 million.
• Several investment analysts have raised their target prices for TeraWulf, with Cantor Fitzgerald increasing its target from $11.00 to $14.00 and Roth Capital boosting it from $7.00 to $12.50, reflecting an overall positive outlook.
• TeraWulf's stock has shown volatility, currently trading at $8.78, with a 52-week range between $2.06 and $10.71, and a reported quarterly revenue increase of 33.9%.

Cresset Asset Management LLC lifted its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 3,930.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 880,687 shares of the company's stock after purchasing an additional 858,837 shares during the period. Cresset Asset Management LLC owned about 0.23% of TeraWulf worth $2,404,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Calamos Advisors LLC bought a new stake in TeraWulf in the 1st quarter worth $33,000. Platform Technology Partners bought a new stake in shares of TeraWulf in the first quarter worth about $39,000. Kraematon Investment Advisors Inc. bought a new position in TeraWulf during the 1st quarter valued at approximately $42,000. Regatta Capital Group LLC bought a new position in TeraWulf during the 1st quarter valued at approximately $42,000. Finally, CoreCap Advisors LLC lifted its holdings in TeraWulf by 67.9% in the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after buying an additional 3,054 shares during the period. Institutional investors own 62.49% of the company's stock.

Wall Street Analyst Weigh In

WULF has been the subject of several research analyst reports. Cantor Fitzgerald increased their price objective on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price objective for the company in a report on Thursday, May 22nd. Roth Capital increased their price objective on TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a report on Friday, August 15th. Rosenblatt Securities increased their price objective on TeraWulf from $10.50 to $12.00 and gave the stock a "buy" rating in a report on Friday. Finally, B. Riley increased their price objective on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, TeraWulf presently has a consensus rating of "Buy" and a consensus price target of $10.89.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the transaction, the director owned 40,769 shares in the company, valued at approximately $352,244.16. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.88% of the company's stock.

TeraWulf Stock Down 0.3%

Shares of WULF traded down $0.03 on Friday, reaching $9.16. The stock had a trading volume of 72,284,705 shares, compared to its average volume of 62,893,216. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -26.17 and a beta of 3.17. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The company has a 50-day simple moving average of $5.40 and a 200-day simple moving average of $4.15. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $10.71.

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

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.