Victory Capital Management Inc. Decreases Stake in TeraWulf Inc. (NASDAQ:WULF)

Key Points

• Victory Capital Management Inc. reduced its ownership in TeraWulf Inc. by 63.2%, selling 58,997 shares and holding 34,291 shares valued at approximately $94,000 as of its latest SEC filing.
• TeraWulf reported an EPS of ($0.16) for the last quarter, missing the consensus estimate and showing a year-over-year revenue decline of 18.9%.
• Analysts have set a consensus target price of $8.06 for TeraWulf, with several firms recently raising their ratings and price targets for the stock.

Victory Capital Management Inc. lessened its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 63.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,291 shares of the company's stock after selling 58,997 shares during the quarter. Victory Capital Management Inc.'s holdings in TeraWulf were worth $94,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CoreCap Advisors LLC grew its position in shares of TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after buying an additional 3,054 shares during the period. Voya Investment Management LLC increased its position in TeraWulf by 4.8% in the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock valued at $446,000 after buying an additional 3,628 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in TeraWulf by 18.5% during the 1st quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock worth $86,000 after purchasing an additional 4,920 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in TeraWulf by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 27,993 shares of the company's stock worth $158,000 after purchasing an additional 5,445 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in TeraWulf by 6.2% during the 1st quarter. SG Americas Securities LLC now owns 130,322 shares of the company's stock worth $356,000 after purchasing an additional 7,597 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Up 3.5%

NASDAQ:WULF traded up $0.17 during trading hours on Tuesday, reaching $5.06. The company had a trading volume of 32,322,383 shares, compared to its average volume of 45,037,672. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $9.30. The firm's 50 day moving average price is $4.53 and its 200-day moving average price is $3.97.

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 analysts' consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf's revenue for the quarter was down 18.9% on a year-over-year basis. As a group, equities analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WULF has been the subject of a number of recent research reports. Rosenblatt Securities boosted their price objective on TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective for the company in a report on Thursday, May 22nd. Finally, JMP Securities initiated coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $8.06.

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.