Wellington Management Group LLP Sells 24,842 Shares of TeraWulf Inc. (NASDAQ:WULF)

Wellington Management Group LLP reduced its position in TeraWulf Inc. (NASDAQ:WULF) by 28.2% during the third quarter, Holdings Channel.com reports. The firm owned 63,365 shares of the company’s stock after selling 24,842 shares during the quarter. Wellington Management Group LLP’s holdings in TeraWulf were worth $297,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after buying an additional 227,186 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of TeraWulf in the 2nd quarter worth about $22,443,000. Hood River Capital Management LLC bought a new position in TeraWulf in the 2nd quarter valued at about $20,532,000. Charles Schwab Investment Management Inc. boosted its stake in TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in TeraWulf during the 2nd quarter worth approximately $9,948,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Trading Up 1.8 %

WULF opened at $6.61 on Friday. TeraWulf Inc. has a twelve month low of $1.24 and a twelve month high of $9.30. The company’s 50-day moving average price is $6.95 and its two-hundred day moving average price is $5.28.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WULF shares. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. B. Riley lifted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Wednesday, December 4th. Needham & Company LLC boosted their price target on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities increased their price objective 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. Seven 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, TeraWulf has an average rating of “Buy” and an average target price of $8.64.

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.