Cresset Asset Management LLC Sells 1,652,357 Shares of TeraWulf Inc. (NASDAQ:WULF)

Cresset Asset Management LLC trimmed its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 98.7% in the fourth quarter, according to the company in its most recent Form 13F 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 period. Cresset Asset Management LLC's holdings in TeraWulf were worth $124,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Crestline Management LP acquired a new stake in shares of TeraWulf in the fourth quarter valued at approximately $76,000. Cetera Investment Advisers lifted its position in shares of TeraWulf by 421.9% in the fourth quarter. Cetera Investment Advisers now owns 100,366 shares of the company's stock valued at $568,000 after buying an additional 81,134 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in shares of TeraWulf in the fourth quarter valued at approximately $213,000. BNP Paribas Financial Markets acquired a new stake in shares of TeraWulf in the fourth quarter valued at approximately $961,000. Finally, Ameriprise Financial Inc. lifted its position in shares of TeraWulf by 33.5% in the fourth quarter. Ameriprise Financial Inc. now owns 137,884 shares of the company's stock valued at $780,000 after buying an additional 34,609 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Performance

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

TeraWulf (NASDAQ:WULF - Get Free Report) last posted 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 return on equity of 15.91% and a negative net margin of 41.88%. The company had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. The business's revenue was down 18.9% on a year-over-year basis. On average, analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Rosenblatt Securities cut their price objective on TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Jones Trading started coverage on TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 price target for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $7.86.

TeraWulf 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.