Schonfeld Strategic Advisors LLC Cuts Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Schonfeld Strategic Advisors LLC trimmed its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 79.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,680 shares of the company's stock after selling 126,028 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in TeraWulf were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton purchased a new position in TeraWulf during the fourth quarter worth about $32,000. Perigon Wealth Management LLC purchased a new position in shares of TeraWulf during the fourth quarter valued at approximately $59,000. R Squared Ltd bought a new position in TeraWulf in the fourth quarter worth approximately $61,000. ARS Investment Partners LLC increased its position in shares of TeraWulf by 20.0% during the fourth quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock worth $68,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in TeraWulf in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 62.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on WULF. Jones Trading initiated coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target for the company. Rosenblatt Securities decreased their price target on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One investment 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. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Buy" and a consensus target price of $7.86.

TeraWulf Trading Down 2.1%

Shares of WULF stock traded down $0.08 during trading hours on Tuesday, hitting $3.92. The company's stock had a trading volume of 4,100,137 shares, compared to its average volume of 29,742,623. The company has a 50 day moving average of $2.94 and a 200 day moving average of $4.86. TeraWulf Inc. has a 12-month low of $1.91 and a 12-month high of $9.30. The stock has a market cap of $1.51 billion, a PE ratio of -11.86 and a beta of 3.00.

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

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.