Driehaus Capital Management LLC Buys 412,877 Shares of TeraWulf Inc. (NASDAQ:WULF)

Driehaus Capital Management LLC boosted its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,733,291 shares of the company's stock after acquiring an additional 412,877 shares during the period. Driehaus Capital Management LLC owned 3.30% of TeraWulf worth $72,070,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of WULF. Rosenberg Matthew Hamilton bought a new stake in TeraWulf during the 4th quarter worth approximately $32,000. CoreCap Advisors LLC raised its holdings in TeraWulf by 67.9% in the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after purchasing an additional 3,054 shares in the last quarter. Perigon Wealth Management LLC bought a new position in TeraWulf in the 4th quarter worth $59,000. R Squared Ltd bought a new position in TeraWulf in the 4th quarter worth $61,000. Finally, ARS Investment Partners LLC increased its stake in shares of TeraWulf by 20.0% in the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock worth $68,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 62.49% of the company's stock.

Analyst Ratings Changes

WULF has been the topic of several recent analyst reports. Rosenblatt Securities cut their price objective on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday. Needham & Company LLC reissued a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Finally, Jones Trading initiated coverage on shares of TeraWulf in a research report on Monday, March 31st. They set a "buy" rating and a $4.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $7.86.

TeraWulf Trading Up 15.6%

TeraWulf stock traded up $0.47 during mid-day trading on Monday, hitting $3.48. The stock had a trading volume of 42,754,917 shares, compared to its average volume of 29,334,075. The firm has a market capitalization of $1.33 billion, a P/E ratio of -10.55 and a beta of 3.00. The firm's 50 day moving average is $2.89 and its 200 day moving average is $4.98. TeraWulf Inc. has a one year low of $1.91 and a one year high of $9.30.

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). The firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The firm's quarterly revenue was down 18.9% on a year-over-year basis. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.17 earnings per share 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.