Cresset Asset Management LLC Has $6.81 Million Position in TeraWulf Inc. $WULF

Cresset Asset Management LLC decreased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 596,091 shares of the company’s stock after selling 254,596 shares during the quarter. Cresset Asset Management LLC’s holdings in TeraWulf were worth $6,807,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the period. Two Seas Capital LP increased its position in TeraWulf by 966.9% in the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after purchasing an additional 2,072,729 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in TeraWulf in the second quarter worth about $8,949,000. Goodlander Investment Management LLC bought a new stake in TeraWulf during the 2nd quarter worth about $8,760,000. Finally, Thames Capital Management LLC acquired a new position in TeraWulf during the 2nd quarter valued at about $4,970,000. 62.49% of the stock is currently owned by institutional investors.

Insider Activity at TeraWulf

In other news, Director Michael C. Bucella acquired 3,171 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the transaction, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 19.90% of the stock is currently owned by corporate insiders.

TeraWulf Stock Up 0.7%

Shares of NASDAQ:WULF opened at $15.47 on Friday. The company has a 50 day moving average price of $14.39 and a two-hundred day moving average price of $13.07. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.03 and a current ratio of 2.00. The company has a market capitalization of $6.56 billion, a PE ratio of -9.49 and a beta of 3.67. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $18.51.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WULF. Morgan Stanley initiated coverage on shares of TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 price target for the company. Rosenblatt Securities raised their price objective on shares of TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and an average target price of $20.69.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.