Exchange Traded Concepts LLC Has $4.54 Million Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Exchange Traded Concepts LLC boosted its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 26.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,663,536 shares of the company's stock after purchasing an additional 346,750 shares during the period. Exchange Traded Concepts LLC owned 0.43% of TeraWulf worth $4,541,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Senator Investment Group LP bought a new position in shares of TeraWulf in the fourth quarter valued at $24,371,000. Science & Technology Partners L.P. acquired a new stake in TeraWulf in the fourth quarter valued at $18,606,000. BIT Capital GmbH grew 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 valued at $22,503,000 after acquiring an additional 2,499,865 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of TeraWulf in the 4th quarter valued at about $10,970,000. Finally, Soros Fund Management LLC acquired a new position in shares of TeraWulf during the 4th quarter worth about $8,632,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Stock Performance

WULF stock traded down $0.11 during trading hours on Thursday, hitting $3.84. 37,845,580 shares of the stock were exchanged, compared to its average volume of 31,567,043. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $9.30. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $1.48 billion, a P/E ratio of -11.64 and a beta of 3.09. The company has a 50-day simple moving average of $3.43 and a two-hundred day simple moving average of $4.39.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative return on equity of 42.09% and a negative net margin of 94.09%. The firm's revenue for the quarter was down 18.9% compared to the same quarter last year. On average, analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JMP Securities initiated coverage on shares of TeraWulf in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 target price for the company. Jones Trading assumed coverage on TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. Rosenblatt Securities lifted their target price on TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 target price on the stock in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf has an average rating of "Buy" and a consensus price target of $7.89.

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.