Invesco Ltd. Purchases 725,322 Shares of TeraWulf Inc. (NASDAQ:WULF)

Invesco Ltd. increased its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 583.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 849,708 shares of the company's stock after buying an additional 725,322 shares during the period. Invesco Ltd. owned 0.22% of TeraWulf worth $4,809,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WULF. Geode Capital Management LLC increased its holdings in shares of TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock worth $43,232,000 after acquiring an additional 453,429 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of TeraWulf by 74.2% during 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. BIT Capital GmbH grew its position in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock valued at $22,503,000 after acquiring an additional 2,499,865 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in TeraWulf by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock valued at $13,980,000 after buying an additional 105,997 shares in the last quarter. Finally, Zweig DiMenna Associates LLC raised its position in TeraWulf by 8.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 2,206,120 shares of the company's stock valued at $12,487,000 after purchasing an additional 178,620 shares during the last quarter. Institutional investors own 62.49% of the company's stock.

TeraWulf Trading Up 15.6 %

NASDAQ WULF traded up $0.43 on Thursday, reaching $3.21. 13,425,938 shares of the stock were exchanged, compared to its average volume of 28,487,615. The firm has a market capitalization of $1.23 billion, a PE ratio of -15.98 and a beta of 2.76. TeraWulf Inc. has a one year low of $1.91 and a one year high of $9.30. The company's 50-day simple moving average is $2.98 and its two-hundred day simple moving average is $5.11.

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 analysts' consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $35.00 million for the quarter, compared to analysts' expectations of $37.43 million. The business's revenue for the quarter was up 50.2% on a year-over-year basis. Sell-side analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WULF has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They set a "market perform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. 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 price objective for the company. Finally, Rosenblatt Securities decreased their target price on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $7.86.

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.