Northern Trust Corp Increases Stock Holdings in TeraWulf Inc. (NASDAQ:WULF)

Northern Trust Corp boosted its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 15.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,603,141 shares of the company's stock after acquiring an additional 352,202 shares during the period. Northern Trust Corp owned 0.67% of TeraWulf worth $14,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WULF. Barclays PLC lifted its position 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 purchasing an additional 343,016 shares during the last quarter. Franklin Resources Inc. grew its position in shares of TeraWulf by 10.4% during the third quarter. Franklin Resources Inc. now owns 686,219 shares of the company's stock worth $3,081,000 after purchasing an additional 64,634 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in TeraWulf by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company's stock valued at $516,000 after buying an additional 4,756 shares in the last quarter. Rosenberg Matthew Hamilton purchased a new position in shares of TeraWulf in the 4th quarter worth approximately $32,000. Finally, Financial Enhancement Group LLC purchased a new position in shares of TeraWulf in the 4th quarter worth approximately $1,274,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Up 0.1%

Shares of TeraWulf stock traded up $0.01 during mid-day trading on Wednesday, reaching $3.93. 3,968,894 shares of the stock traded hands, compared to its average volume of 29,858,992. TeraWulf Inc. has a fifty-two week low of $1.96 and a fifty-two week high of $9.30. The stock has a market capitalization of $1.51 billion, a PE ratio of -11.92 and a beta of 3.00. The business has a 50-day moving average of $2.95 and a 200 day moving average of $4.86.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) EPS 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 firm had revenue of $34.41 million for the quarter, compared to analysts' expectations of $45.72 million. The business's quarterly revenue was down 18.9% 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.

Analysts Set New Price Targets

WULF has been the subject of a number of recent research reports. Jones Trading started coverage on TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Rosenblatt Securities lowered their price objective on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company 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.