Soros Fund Management LLC Buys New Stake in TeraWulf Inc. (NASDAQ:WULF)

Soros Fund Management LLC bought a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,525,000 shares of the company's stock, valued at approximately $8,632,000. Soros Fund Management LLC owned about 0.40% of TeraWulf at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of WULF. Stifel Financial Corp purchased a new stake in shares of TeraWulf during the 3rd quarter valued at approximately $47,000. Barclays PLC raised 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 period. Virtu Financial LLC purchased a new stake in TeraWulf in the third quarter valued at $434,000. Tidal Investments LLC lifted its stake in shares of TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company's stock valued at $4,065,000 after purchasing an additional 810,382 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of TeraWulf by 10.4% during the 3rd 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 during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Trading Up 16.5 %

NASDAQ:WULF traded up $0.46 during midday trading on Thursday, reaching $3.24. The company had a trading volume of 48,942,475 shares, compared to its average volume of 28,666,055. TeraWulf Inc. has a 12-month low of $1.91 and a 12-month high of $9.30. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -16.20 and a beta of 2.76. The stock's fifty day simple moving average is $2.96 and its 200-day simple moving average is $5.10.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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 company had revenue of $35.00 million during the quarter, compared to analysts' expectations of $37.43 million. The company's revenue was up 50.2% on a year-over-year basis. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

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

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.