First Trust Advisors LP Buys 801,979 Shares of TeraWulf Inc. (NASDAQ:WULF)

First Trust Advisors LP raised its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 136.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,389,616 shares of the company's stock after buying an additional 801,979 shares during the period. First Trust Advisors LP owned about 0.36% of TeraWulf worth $7,865,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stifel Financial Corp bought a new position in TeraWulf during the third quarter worth $47,000. Barclays PLC lifted its stake in shares of TeraWulf by 419.7% during the 3rd quarter. Barclays PLC now owns 424,748 shares of the company's stock worth $1,989,000 after buying an additional 343,016 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of TeraWulf during the 3rd quarter worth about $434,000. Tidal Investments LLC grew its stake in TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company's stock valued at $4,065,000 after buying an additional 810,382 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in TeraWulf by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company's stock valued at $3,081,000 after acquiring an additional 64,634 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Performance

Shares of TeraWulf stock traded down $0.03 on Friday, reaching $3.21. 33,094,033 shares of the stock were exchanged, compared to its average volume of 28,763,630. The firm has a market cap of $1.23 billion, a PE ratio of -16.05 and a beta of 2.76. The firm's 50 day moving average is $2.96 and its 200-day moving average is $5.09. TeraWulf Inc. has a one year low of $1.91 and a one year high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. The business's revenue was up 50.2% compared to the same quarter last year. On average, equities research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

WULF has been the topic of a number of recent research reports. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Rosenblatt Securities dropped their target price on TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Jones Trading started coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating for the company. One investment 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 stock. According to MarketBeat.com, TeraWulf currently has an average rating of "Buy" and an average target price of $7.86.

TeraWulf 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.