Castleark Management LLC Takes $1.71 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Castleark Management LLC acquired a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 301,970 shares of the company's stock, valued at approximately $1,709,000. Castleark Management LLC owned 0.08% of TeraWulf as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its stake in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after acquiring an additional 3,054 shares during the period. Perigon Wealth Management LLC acquired a new stake in TeraWulf during the fourth quarter valued at approximately $59,000. R Squared Ltd acquired a new stake in TeraWulf during the fourth quarter valued at approximately $61,000. ARS Investment Partners LLC boosted its holdings in TeraWulf by 20.0% during the fourth quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock valued at $68,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in TeraWulf during the fourth quarter valued at approximately $68,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

Shares of WULF stock traded down $0.16 during trading hours on Friday, reaching $3.93. The company had a trading volume of 42,857,340 shares, compared to its average volume of 30,572,880. The company has a 50 day moving average of $3.00 and a 200 day moving average of $4.80. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -11.91 and a beta of 3.00. TeraWulf Inc. has a 1-year low of $1.98 and a 1-year 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 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 firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. The business's quarterly revenue was down 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WULF has been the topic of a number of recent research reports. JMP Securities initiated coverage on TeraWulf in a report on Thursday. They issued a "market outperform" rating and a $7.00 target price on the stock. Rosenblatt Securities reduced their target price on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 target price on the stock in a report on Thursday. Finally, Jones Trading initiated coverage on TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company 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.