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

Paloma Partners Management Co reduced its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 44.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,367 shares of the company’s stock after selling 459,816 shares during the period. Paloma Partners Management Co owned about 0.15% of TeraWulf worth $2,711,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in 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 purchasing an additional 23,019 shares during the period. FMR LLC increased its holdings 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 buying an additional 1,408 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of TeraWulf by 66.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock valued at $681,000 after acquiring an additional 58,235 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 1,704,013 shares during the period. Finally, Intech Investment Management LLC purchased a new position in TeraWulf in the 3rd quarter worth approximately $340,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $7.89 on Monday. The stock has a 50 day moving average price of $6.09 and a 200-day moving average price of $4.76. TeraWulf Inc. has a 52-week low of $1.16 and a 52-week high of $9.30.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of TeraWulf from $6.00 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Stifel Canada lowered shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, October 7th. Finally, Northland Securities increased their price objective on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.