Cresset Asset Management LLC Reduces Holdings in TeraWulf Inc. (NASDAQ:WULF)

Cresset Asset Management LLC reduced its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 98.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,850 shares of the company's stock after selling 1,652,357 shares during the quarter. Cresset Asset Management LLC's holdings in TeraWulf were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARS Investment Partners LLC raised 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 valued at $68,000 after buying an additional 2,000 shares during the last quarter. Truist Financial Corp raised its holdings in TeraWulf by 5.0% in the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company's stock worth $297,000 after purchasing an additional 2,500 shares in the last quarter. Xponance Inc. raised its holdings in TeraWulf by 22.7% in the 4th quarter. Xponance Inc. now owns 19,156 shares of the company's stock worth $108,000 after purchasing an additional 3,545 shares in the last quarter. Voya Investment Management LLC raised its holdings in TeraWulf by 4.8% in the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock worth $446,000 after purchasing an additional 3,628 shares in the last quarter. Finally, KBC Group NV raised its holdings in TeraWulf by 49.3% in the 4th 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. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TeraWulf Stock Down 3.9%

Shares of NASDAQ WULF traded down $0.16 during trading on Friday, reaching $3.93. 42,857,340 shares of the company traded hands, compared to its average volume of 30,572,880. The firm has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $4.80. TeraWulf Inc. has a 52-week low of $1.98 and a 52-week high of $9.30. The stock has a market capitalization 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 data on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company's quarterly revenue was down 18.9% compared to the same quarter last year. As a group, research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

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.