CenterBook Partners LP Boosts Stock Position in TeraWulf Inc. (NASDAQ:WULF)

CenterBook Partners LP raised its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 106.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,170 shares of the company's stock after buying an additional 63,066 shares during the quarter. CenterBook Partners LP's holdings in TeraWulf were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CoreCap Advisors LLC increased its stake in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after buying an additional 3,054 shares during the period. Xponance Inc. boosted its holdings in TeraWulf by 22.7% in the fourth quarter. Xponance Inc. now owns 19,156 shares of the company's stock worth $108,000 after acquiring an additional 3,545 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of TeraWulf by 4.8% during the fourth quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock valued at $446,000 after purchasing an additional 3,628 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of TeraWulf by 18.5% during the first quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock valued at $86,000 after purchasing an additional 4,920 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in TeraWulf by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 27,993 shares of the company's stock valued at $158,000 after acquiring an additional 5,445 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WULF. JMP Securities began coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price target for the company. Jones Trading started coverage on TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target for the company. Rosenblatt Securities increased their target price on TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 target price for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $8.06.

TeraWulf Trading Up 1.7%

Shares of NASDAQ:WULF traded up $0.09 during trading on Monday, hitting $5.22. The company had a trading volume of 18,325,476 shares, compared to its average volume of 34,125,626. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -15.74 and a beta of 3.11. TeraWulf Inc. has a one year low of $2.06 and a one year high of $9.30. The company has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $4.03. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.90 and a quick ratio of 1.90.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted 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 company had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The firm's revenue for the quarter was down 18.9% on a year-over-year basis. As a group, equities analysts forecast 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.