Deutsche Bank AG Sells 273,696 Shares of TeraWulf Inc. (NASDAQ:WULF)

Deutsche Bank AG lowered its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 35.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,501 shares of the company's stock after selling 273,696 shares during the period. Deutsche Bank AG owned 0.13% of TeraWulf worth $2,776,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC grew its position in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after acquiring an additional 3,054 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in shares of TeraWulf in the fourth quarter valued at approximately $59,000. R Squared Ltd acquired a new position in shares of TeraWulf in the fourth quarter valued at approximately $61,000. ARS Investment Partners LLC increased its stake in shares of TeraWulf by 20.0% in the fourth 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 period. Finally, Forum Financial Management LP acquired a new position in shares of TeraWulf in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 62.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WULF shares. Jones Trading started coverage on shares of TeraWulf in a research note on Monday, March 31st. They set a "buy" rating and a $4.00 price target for the company. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 target price on the stock in a report on Thursday. Rosenblatt Securities cut 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. Finally, JMP Securities assumed coverage on TeraWulf in a report on Thursday. They issued a "market outperform" rating and a $7.00 target price on the stock. One equities research 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. Based on data from MarketBeat.com, TeraWulf presently has an average rating of "Buy" and a consensus price target of $7.67.

TeraWulf Stock Performance

Shares of WULF stock traded down $0.16 during mid-day trading on Friday, hitting $3.93. The company's stock had a trading volume of 42,857,340 shares, compared to its average volume of 30,572,880. The company's fifty day simple moving average is $3.00 and its 200-day simple moving average is $4.80. TeraWulf Inc. has a 52 week low of $1.98 and a 52 week high of $9.30. The company 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 issued its quarterly earnings results 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). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business had revenue of $34.41 million during the quarter, compared to analyst estimates of $45.72 million. TeraWulf's revenue was down 18.9% compared to the same quarter last year. On average, equities analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

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.