Wellington Management Group LLP Buys 1,115,228 Shares of TeraWulf Inc. (NASDAQ:WULF)

Wellington Management Group LLP increased its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 1,760.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,178,593 shares of the company's stock after buying an additional 1,115,228 shares during the quarter. Wellington Management Group LLP owned 0.31% of TeraWulf worth $6,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System grew its position in TeraWulf by 13.3% during the 4th quarter. California State Teachers Retirement System now owns 266,955 shares of the company's stock worth $1,511,000 after acquiring an additional 31,236 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of TeraWulf by 3.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 682,348 shares of the company's stock worth $3,862,000 after purchasing an additional 25,828 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of TeraWulf in the fourth quarter worth $7,591,000. Forum Financial Management LP purchased a new position in shares of TeraWulf in the fourth quarter worth $68,000. Finally, GTS Securities LLC raised its stake in shares of TeraWulf by 140,206.7% in the fourth quarter. GTS Securities LLC now owns 21,046 shares of the company's stock worth $119,000 after purchasing an additional 21,031 shares during the last quarter. Institutional investors own 62.49% of the company's stock.

TeraWulf Trading Up 13.6%

Shares of NASDAQ WULF traded up $0.52 during midday trading on Friday, hitting $4.35. The company's stock had a trading volume of 47,191,086 shares, compared to its average volume of 31,203,621. The business's 50 day moving average is $3.16 and its two-hundred day moving average is $4.55. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $9.30. The firm has a market cap of $1.67 billion, a P/E ratio of -13.18 and a beta of 3.09.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $45.72 million. The company's revenue for the quarter was down 18.9% compared to the same quarter last year. On average, analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WULF has been the subject of several recent analyst reports. Rosenblatt Securities decreased their price target on TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price target for the company in a report on Thursday, May 22nd. Jones Trading started coverage on TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. Finally, 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 for the company. 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 stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and a consensus target price of $7.67.

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.