351,994 Shares in TeraWulf Inc. (NASDAQ:WULF) Acquired by Vennlight Capital Management LP

Vennlight Capital Management LP acquired a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 351,994 shares of the company's stock, valued at approximately $1,992,000. TeraWulf comprises approximately 1.9% of Vennlight Capital Management LP's investment portfolio, making the stock its 13th biggest position. Vennlight Capital Management LP owned 0.09% of TeraWulf at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Senator Investment Group LP purchased a new stake in TeraWulf in the fourth quarter worth $24,371,000. Science & Technology Partners L.P. bought a new stake in TeraWulf in the fourth quarter worth $18,606,000. BIT Capital GmbH boosted its holdings in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp boosted its holdings in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock worth $26,964,000 after acquiring an additional 2,028,383 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in TeraWulf in the fourth quarter worth $10,970,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Rosenblatt Securities dropped their target price on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Jones Trading initiated coverage on TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 price target on the stock. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price target on the stock in a report on Thursday. Finally, JMP Securities initiated coverage on TeraWulf in a report on Thursday. They set a "market outperform" rating and a $7.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $7.67.

TeraWulf Stock Performance

NASDAQ:WULF traded down $0.16 during mid-day trading on Friday, hitting $3.93. 42,857,340 shares of the company's stock traded hands, compared to its average volume of 30,485,423. The company has a fifty day moving average of $3.00 and a 200 day moving average of $4.82. TeraWulf Inc. has a twelve month low of $1.96 and a twelve 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 announced its quarterly earnings data on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The firm had revenue of $34.41 million during the quarter, compared to analyst estimates of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. TeraWulf's revenue was down 18.9% compared to the same quarter last year. On average, research analysts expect that TeraWulf Inc. will post -0.17 earnings per share 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.