Balyasny Asset Management L.P. Has $95,000 Holdings in TeraWulf Inc. (NASDAQ:WULF)

Balyasny Asset Management L.P. reduced its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 99.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,840 shares of the company's stock after selling 2,598,035 shares during the quarter. Balyasny Asset Management L.P.'s holdings in TeraWulf were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new position in shares of TeraWulf during the 4th quarter worth about $59,000. R Squared Ltd acquired a new position in shares of TeraWulf during the 4th quarter worth about $61,000. ARS Investment Partners LLC grew its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock worth $68,000 after buying an additional 2,000 shares during the period. Forum Financial Management LP acquired a new position in shares of TeraWulf during the 4th quarter worth about $68,000. Finally, KBC Group NV grew its position in shares of TeraWulf by 49.3% during the 4th quarter. KBC Group NV now owns 12,349 shares of the company's stock worth $70,000 after buying an additional 4,077 shares during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Price Performance

NASDAQ:WULF traded down $0.16 during trading hours on Friday, reaching $3.93. 42,857,340 shares of the stock were exchanged, compared to its average volume of 30,572,880. TeraWulf Inc. has a twelve month low of $1.98 and a twelve month high of $9.30. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $4.80. The stock has a market cap of $1.51 billion, a PE ratio of -11.91 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. The firm's quarterly revenue was down 18.9% on a year-over-year basis. Equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

WULF has been the subject of several analyst reports. Rosenblatt Securities decreased their target price on TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a research report on Thursday. Jones Trading initiated coverage on TeraWulf in a research report on Monday, March 31st. They set a "buy" rating and a $4.00 target price for the company. Finally, JMP Securities initiated coverage on TeraWulf in a research report on Thursday. They set a "market outperform" rating and a $7.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, TeraWulf has a consensus rating of "Buy" and an average target price of $7.67.

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.