TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP trimmed its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 74.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,722 shares of the company's stock after selling 278,729 shares during the period. Concentric Capital Strategies LP's holdings in TeraWulf were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock worth $43,232,000 after buying an additional 453,429 shares during the period. Dimensional Fund Advisors LP boosted its stake in TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock worth $30,387,000 after buying an additional 955,795 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after purchasing an additional 2,028,383 shares during the period. Senator Investment Group LP purchased a new stake in TeraWulf in the 4th quarter valued at about $24,371,000. Finally, BIT Capital GmbH lifted its stake in TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Down 4.4%

NASDAQ WULF traded down $0.17 on Wednesday, hitting $3.66. 22,958,469 shares of the stock were exchanged, compared to its average volume of 29,413,323. TeraWulf Inc. has a fifty-two week low of $1.91 and a fifty-two week high of $9.30. The company has a 50-day moving average price of $2.90 and a 200-day moving average price of $4.95. The company has a market cap of $1.40 billion, a PE ratio of -11.09 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf's revenue was down 18.9% on a year-over-year basis. As a group, equities research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WULF shares. Rosenblatt Securities reduced their price target on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday. Jones Trading initiated coverage on shares of TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf currently has an average rating of "Buy" and a consensus target price of $7.86.

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.