Amalgamated Bank Buys 2,912 Shares of TeraWulf Inc. (NASDAQ:WULF)

Amalgamated Bank lifted its stake in TeraWulf Inc. (NASDAQ:WULF) by 57.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,963 shares of the company’s stock after acquiring an additional 2,912 shares during the quarter. Amalgamated Bank’s holdings in TeraWulf were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after buying an additional 1,764,115 shares during the last quarter. Van ECK Associates Corp grew its position in shares of TeraWulf by 50.8% during the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares during the period. Bank of New York Mellon Corp raised its holdings in TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after purchasing an additional 417,369 shares during the period. Intrinsic Edge Capital Management LLC bought a new position in TeraWulf in the 4th quarter worth $1,200,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in TeraWulf by 20.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after purchasing an additional 76,714 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC initiated coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Roth Mkm reiterated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, September 3rd. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, B. Riley reissued a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Eight investment 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, the company presently has a consensus rating of “Buy” and an average target price of $5.71.

TeraWulf Stock Down 7.5 %

Shares of TeraWulf stock opened at $4.33 on Wednesday. The stock’s fifty day moving average is $4.25 and its two-hundred day moving average is $3.55. TeraWulf Inc. has a 52 week low of $0.89 and a 52 week high of $6.51.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The business had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. As a group, research analysts predict that TeraWulf Inc. will post -0.11 EPS 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.