Exchange Traded Concepts LLC grew its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,663,536 shares of the company's stock after buying an additional 346,750 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.43% of TeraWulf worth $4,541,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of TeraWulf by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock valued at $13,980,000 after acquiring an additional 105,997 shares in the last quarter. Soros Fund Management LLC purchased a new position in TeraWulf during the 4th quarter valued at $8,632,000. Wellington Management Group LLP raised its holdings in TeraWulf by 1,760.0% in the 4th quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock worth $6,671,000 after purchasing an additional 1,115,228 shares in the last quarter. BIT Capital GmbH lifted its position in shares of TeraWulf by 169.4% in the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after purchasing an additional 2,499,865 shares during the period. Finally, Senator Investment Group LP purchased a new stake in shares of TeraWulf in the 4th quarter worth about $24,371,000. 62.49% of the stock is currently owned by institutional investors.
TeraWulf Trading Down 5.6%
WULF opened at $4.02 on Monday. The company's 50 day moving average is $3.34 and its 200 day moving average is $4.42. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -12.18 and a beta of 3.09. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $9.30.
TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $34.41 million for the quarter, compared to analysts' expectations of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company's revenue was down 18.9% on a year-over-year basis. As a group, analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on WULF. JMP Securities began coverage on shares of TeraWulf in a research report on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 price target on the stock. Rosenblatt Securities upped their target price on TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a research note on Thursday, May 22nd. Finally, Jones Trading initiated coverage on TeraWulf in a research report on Monday, March 31st. They set a "buy" rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of "Buy" and a consensus target price of $7.89.
Check Out Our Latest Report on WULF
TeraWulf Profile
(
Free Report)
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.
Further Reading
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