Lone Pine Capital LLC Sells 1,586,868 Shares of TeraWulf Inc. (NASDAQ:WULF)

Lone Pine Capital LLC reduced its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,480,928 shares of the company's stock after selling 1,586,868 shares during the period. TeraWulf makes up approximately 0.1% of Lone Pine Capital LLC's holdings, making the stock its 29th largest holding. Lone Pine Capital LLC owned approximately 0.38% of TeraWulf worth $8,382,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in TeraWulf by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock worth $13,980,000 after acquiring an additional 105,997 shares during the last quarter. Wellington Management Group LLP raised its position in shares of TeraWulf by 1,760.0% during the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock worth $6,671,000 after acquiring an additional 1,115,228 shares during the last quarter. GoalVest Advisory LLC acquired a new position in shares of TeraWulf during the fourth quarter valued at $651,000. Barclays PLC boosted its holdings in TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after acquiring an additional 343,016 shares during the last quarter. Finally, BIT Capital GmbH increased 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 worth $22,503,000 after purchasing an additional 2,499,865 shares during the period. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

Shares of TeraWulf stock traded down $0.14 during trading on Wednesday, hitting $2.78. 25,320,922 shares of the company were exchanged, compared to its average volume of 28,535,212. The firm has a market capitalization of $1.06 billion, a P/E ratio of -13.90 and a beta of 2.76. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30. The firm's fifty day moving average price is $2.98 and its 200 day moving average price is $5.11.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. The company's revenue was up 50.2% on a year-over-year basis. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WULF. Needham & Company LLC reiterated a "buy" rating and issued a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Rosenblatt Securities lowered their price objective on TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods began coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a "market perform" rating for the company. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a research report on Sunday, January 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $7.86.

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.