JAT Capital Mgmt LP Sells 3,819,280 Shares of TeraWulf Inc. (NASDAQ:WULF)

JAT Capital Mgmt LP trimmed its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 76.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,207,376 shares of the company’s stock after selling 3,819,280 shares during the period. TeraWulf comprises 0.9% of JAT Capital Mgmt LP’s holdings, making the stock its 24th biggest position. JAT Capital Mgmt LP’s holdings in TeraWulf were worth $5,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC increased its position in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after purchasing an additional 139,722 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of TeraWulf in the 2nd quarter worth about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TeraWulf by 43.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock valued at $3,073,000 after acquiring an additional 199,345 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

NASDAQ:WULF opened at $7.89 on Friday. The company’s 50-day simple moving average is $6.09 and its 200-day simple moving average is $4.73. TeraWulf Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $9.30.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WULF. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research note on Tuesday, October 8th. Northland Securities increased their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, TeraWulf currently has an average rating of “Buy” and an average target price of $7.21.

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.