Two Sigma Investments LP Decreases Stock Holdings in TeraWulf Inc. (NASDAQ:WULF)

Two Sigma Investments LP decreased its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 83.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 541,426 shares of the company's stock after selling 2,669,508 shares during the period. Two Sigma Investments LP owned 0.14% of TeraWulf worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WULF. CoreCap Advisors LLC grew its stake in TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after acquiring an additional 3,054 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of TeraWulf in the 4th quarter worth about $59,000. R Squared Ltd bought a new stake in TeraWulf during the 4th quarter worth approximately $61,000. Forum Financial Management LP bought a new position in shares of TeraWulf in the fourth quarter valued at approximately $68,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of TeraWulf during the fourth quarter valued at approximately $69,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jones Trading initiated 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. JMP Securities initiated coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 target price for the company. Rosenblatt Securities dropped their price objective on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Citizens Jmp upgraded shares of TeraWulf to a "strong-buy" rating and set a $7.00 price objective for the company in a research note on Thursday, May 22nd. One 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's stock. Based on data from MarketBeat.com, TeraWulf presently has an average rating of "Buy" and a consensus target price of $7.67.

TeraWulf Stock Performance

Shares of NASDAQ:WULF traded up $0.15 on Tuesday, reaching $3.76. The company's stock had a trading volume of 36,134,401 shares, compared to its average volume of 30,892,388. The company has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $4.60. TeraWulf Inc. has a 52-week low of $2.04 and a 52-week high of $9.30. The company has a market cap of $1.45 billion, a P/E ratio of -11.39 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its 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). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. The company's revenue for the quarter was down 18.9% compared to the same quarter last year. On average, equities research analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

TeraWulf Company 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.