Millennium Management LLC Trims Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Millennium Management LLC decreased its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,662,213 shares of the company's stock after selling 1,754,808 shares during the quarter. Millennium Management LLC owned 0.43% of TeraWulf worth $9,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CoreCap Advisors LLC raised its position in TeraWulf by 67.9% in the fourth 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 period. Perigon Wealth Management LLC purchased a new stake in shares of TeraWulf in the 4th quarter worth $59,000. R Squared Ltd bought a new position in TeraWulf in the 4th quarter worth $61,000. Forum Financial Management LP bought a new position in TeraWulf in the 4th quarter worth $68,000. Finally, KBC Group NV lifted its position in TeraWulf by 49.3% during the fourth quarter. KBC Group NV now owns 12,349 shares of the company's stock valued at $70,000 after purchasing an additional 4,077 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

Analyst Ratings Changes

WULF has been the subject of a number of analyst reports. JMP Securities began coverage on TeraWulf in a research report on Thursday. They issued a "market outperform" rating and a $7.00 price target for the company. Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a report on Thursday. Jones Trading assumed coverage on shares of TeraWulf in a research note on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. Finally, Rosenblatt Securities dropped their price target on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $7.67.

TeraWulf Trading Down 3.9%

NASDAQ:WULF opened at $3.93 on Monday. The business's 50-day moving average is $3.00 and its 200 day moving average is $4.78. TeraWulf Inc. has a 12 month low of $1.98 and a 12 month high of $9.30. The company has a market capitalization of $1.51 billion, a P/E ratio of -11.91 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued 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 firm 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 firm's revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

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.

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