GeoSphere Capital Management LLC Invests $3.68 Million in TeraWulf Inc. (NASDAQ:WULF)

GeoSphere Capital Management LLC acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 650,000 shares of the company's stock, valued at approximately $3,679,000. TeraWulf accounts for approximately 1.7% of GeoSphere Capital Management LLC's holdings, making the stock its 8th largest position. GeoSphere Capital Management LLC owned approximately 0.17% of TeraWulf as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

WULF has been the subject of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. Rosenblatt Securities lowered their price objective on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Jones Trading initiated coverage on shares of TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of "Buy" and a consensus target price of $7.86.

TeraWulf Price Performance

WULF opened at $3.01 on Friday. TeraWulf Inc. has a one year low of $1.91 and a one year high of $9.30. The business has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $5.00. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -15.05 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business's revenue was down 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

About TeraWulf

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.

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