NBC Securities Inc. Buys New Stake in TeraWulf Inc. (NASDAQ:WULF)

NBC Securities Inc. purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 111,890 shares of the company's stock, valued at approximately $305,000.

Several other hedge funds have also recently modified their holdings of the stock. CoreCap Advisors LLC raised its position in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after buying an additional 3,054 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of TeraWulf in the fourth quarter valued at about $68,000. Rafferty Asset Management LLC acquired a new position in shares of TeraWulf during the fourth quarter worth about $69,000. KBC Group NV raised its holdings in TeraWulf by 49.3% during the fourth quarter. KBC Group NV now owns 12,349 shares of the company's stock worth $70,000 after purchasing an additional 4,077 shares in the last quarter. Finally, Florida Financial Advisors LLC purchased a new position in TeraWulf during the fourth quarter worth about $73,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WULF. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a report on Thursday, May 22nd. Jones Trading began coverage on TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target for the company. Rosenblatt Securities dropped their price objective on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, JMP Securities began coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, TeraWulf presently has an average rating of "Buy" and an average price target of $7.67.

TeraWulf Stock Performance

WULF stock traded down $0.01 during midday trading on Tuesday, hitting $4.52. 35,069,166 shares of the stock were exchanged, compared to its average volume of 31,351,303. The stock's 50-day moving average price is $3.23 and its 200-day moving average price is $4.50. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -13.70 and a beta of 3.09. TeraWulf Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $34.41 million during the quarter, compared to analysts' expectations of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company's revenue was down 18.9% on a year-over-year basis. 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.