Balyasny Asset Management L.P. Sells 2,598,035 Shares of TeraWulf Inc. (NASDAQ:WULF)

Balyasny Asset Management L.P. lowered its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 99.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,840 shares of the company's stock after selling 2,598,035 shares during the period. Balyasny Asset Management L.P.'s holdings in TeraWulf were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WULF. Perigon Wealth Management LLC purchased a new position in shares of TeraWulf during the 4th quarter valued at approximately $59,000. R Squared Ltd bought a new position in TeraWulf during the 4th quarter valued at $61,000. ARS Investment Partners LLC grew its holdings in 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 acquiring an additional 2,000 shares in the last quarter. Forum Financial Management LP bought a new stake in shares of TeraWulf in the 4th quarter worth about $68,000. Finally, KBC Group NV grew its stake in TeraWulf by 49.3% in 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. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Trading Down 0.3%

NASDAQ:WULF traded down $0.01 during trading hours on Wednesday, hitting $3.91. 72,308,812 shares of the stock traded hands, compared to its average volume of 30,186,115. TeraWulf Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $9.30. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -11.85 and a beta of 3.00. The firm has a 50 day moving average price of $2.97 and a 200 day moving average price of $4.85.

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

Analysts Set New Price Targets

WULF has been the topic of a number of research reports. Jones Trading assumed coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target on the stock. Rosenblatt Securities lowered their price target on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.