Paloma Partners Management Co Sells 459,816 Shares of TeraWulf Inc. (NASDAQ:WULF)

Paloma Partners Management Co decreased its holdings in TeraWulf Inc. (NASDAQ:WULF) by 44.2% in the third quarter, Holdings Channel reports. The firm owned 579,367 shares of the company’s stock after selling 459,816 shares during the quarter. Paloma Partners Management Co’s holdings in TeraWulf were worth $2,711,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capstone Investment Advisors LLC raised its position in TeraWulf by 85.3% in the 3rd quarter. Capstone Investment Advisors LLC now owns 50,000 shares of the company’s stock worth $234,000 after buying an additional 23,019 shares during the last quarter. FMR LLC grew its stake in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of TeraWulf by 66.7% during the third quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock valued at $681,000 after purchasing an additional 58,235 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in TeraWulf in the third quarter worth approximately $340,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

TeraWulf stock opened at $7.89 on Monday. TeraWulf Inc. has a 12-month low of $1.16 and a 12-month high of $9.30. The firm has a 50 day moving average of $6.09 and a 200 day moving average of $4.76.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Needham & Company LLC boosted their target price on shares of TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $7.21.

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.