Financial Advocates Investment Management Acquires Shares of 16,060 TeraWulf Inc. (NASDAQ:WULF)

Financial Advocates Investment Management acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,060 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares in the last quarter. Platform Technology Partners purchased a new stake in shares of TeraWulf in the third quarter worth approximately $416,000. Quadrature Capital Ltd purchased a new stake in shares of TeraWulf in the third quarter worth approximately $144,000. Swiss National Bank purchased a new stake in shares of TeraWulf in the third quarter worth approximately $294,000. Finally, Van ECK Associates Corp lifted its position in shares of TeraWulf by 3.0% in the third quarter. Van ECK Associates Corp now owns 2,434,668 shares of the company’s stock worth $3,068,000 after purchasing an additional 70,110 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WULF shares. B. Riley cut their price objective on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Compass Point cut their price objective on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $4.00 price objective on shares of TeraWulf in a research report on Thursday, March 28th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $3.66.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $2.16 on Thursday. The company’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $1.93. TeraWulf Inc. has a 1 year low of $0.89 and a 1 year high of $4.04.

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.