Millennium Management LLC Reduces Holdings in TeraWulf Inc. (NASDAQ:WULF)

Millennium Management LLC cut its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 51.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,662,213 shares of the company's stock after selling 1,754,808 shares during the quarter. Millennium Management LLC owned approximately 0.43% of TeraWulf worth $9,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC grew its stake in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after buying an additional 343,016 shares during the period. JPMorgan Chase & Co. increased its holdings in TeraWulf by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company's stock worth $516,000 after purchasing an additional 4,756 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of TeraWulf by 51.7% in the 4th quarter. SG Americas Securities LLC now owns 122,725 shares of the company's stock worth $695,000 after buying an additional 41,826 shares during the last quarter. KBC Group NV boosted its stake in shares of TeraWulf by 49.3% in the 4th quarter. KBC Group NV now owns 12,349 shares of the company's stock worth $70,000 after buying an additional 4,077 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of TeraWulf in the 4th quarter worth approximately $79,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on WULF shares. JMP Securities assumed coverage on TeraWulf in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price objective on the stock. Rosenblatt Securities lowered their target price on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 price target on the stock in a report on Thursday, May 22nd. Finally, Jones Trading began coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $7.67.

TeraWulf Stock Down 3.8%

Shares of NASDAQ:WULF traded down $0.15 during midday trading on Wednesday, reaching $3.79. The company's stock had a trading volume of 34,199,009 shares, compared to its average volume of 30,625,312. The firm has a market capitalization of $1.46 billion, a PE ratio of -11.48 and a beta of 3.00. The stock has a fifty day moving average of $3.03 and a 200 day moving average of $4.74. TeraWulf Inc. has a twelve month low of $1.98 and a twelve month high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its 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 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 was down 18.9% compared to the same quarter last year. Sell-side analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal 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.