Arvin Capital Management LP Makes New $3.36 Million Investment in TeraWulf Inc. (NASDAQ:WULF)

Arvin Capital Management LP acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 594,177 shares of the company's stock, valued at approximately $3,363,000. TeraWulf makes up approximately 0.9% of Arvin Capital Management LP's holdings, making the stock its 27th biggest position. Arvin Capital Management LP owned approximately 0.15% of TeraWulf at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Uniplan Investment Counsel Inc. boosted its position in shares of TeraWulf by 21.4% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 557,375 shares of the company's stock worth $3,155,000 after acquiring an additional 98,439 shares in the last quarter. Stifel Financial Corp increased its stake in TeraWulf by 394.6% in the fourth quarter. Stifel Financial Corp now owns 49,626 shares of the company's stock valued at $281,000 after purchasing an additional 39,592 shares during the last quarter. Senator Investment Group LP purchased a new position in TeraWulf in the fourth quarter valued at approximately $24,371,000. MetLife Investment Management LLC raised its holdings in TeraWulf by 36.9% during the fourth quarter. MetLife Investment Management LLC now owns 160,964 shares of the company's stock worth $911,000 after purchasing an additional 43,388 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after buying an additional 955,795 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company's stock.

Analysts Set New Price Targets

WULF has been the topic of several research analyst reports. Rosenblatt Securities cut their price target on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Jones Trading began coverage on TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods began coverage on TeraWulf in a research report on Wednesday, January 8th. They set a "market perform" rating on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $7.86.

TeraWulf Stock Performance

TeraWulf stock traded down $0.04 during mid-day trading on Friday, reaching $3.00. 38,583,391 shares of the company were exchanged, compared to its average volume of 28,347,515. The firm has a market cap of $1.15 billion, a PE ratio of -15.00 and a beta of 2.76. The firm's 50-day simple moving average is $3.07 and its two-hundred day simple moving average is $5.15. TeraWulf Inc. has a twelve month low of $1.91 and a twelve month high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analysts' expectations of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company's revenue for the quarter was up 50.2% on a year-over-year basis. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

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.