Soros Fund Management LLC Acquires Shares of 1,525,000 TeraWulf Inc. (NASDAQ:WULF)

Soros Fund Management LLC purchased a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,525,000 shares of the company's stock, valued at approximately $8,632,000. Soros Fund Management LLC owned 0.40% of TeraWulf at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Senator Investment Group LP purchased a new stake in TeraWulf in the fourth quarter valued at $24,371,000. Science & Technology Partners L.P. acquired a new stake in shares of TeraWulf during the fourth quarter valued at about $18,606,000. BIT Capital GmbH lifted its holdings in shares of TeraWulf by 169.4% in the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares during the last quarter. Van ECK Associates Corp raised its position in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after purchasing an additional 2,028,383 shares during the period. Finally, Wellington Management Group LLP raised its position in TeraWulf by 1,760.0% in the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock valued at $6,671,000 after purchasing an additional 1,115,228 shares during the period. Hedge funds and other institutional investors own 62.49% of the company's stock.

Analyst Upgrades and Downgrades

WULF has been the topic of several research analyst reports. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating on the stock. Atb Cap Markets raised shares of TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Rosenblatt Securities decreased their price target on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Jones Trading started coverage on TeraWulf in a research report on Monday, March 31st. They set a "buy" rating and a $4.00 price objective on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $7.86.

TeraWulf Price Performance

Shares of WULF traded down $0.03 during mid-day trading on Friday, reaching $3.21. The company's stock had a trading volume of 33,094,033 shares, compared to its average volume of 28,835,284. The company's 50 day moving average is $2.96 and its 200 day moving average is $5.09. The stock has a market cap of $1.23 billion, a PE ratio of -16.05 and a beta of 2.76. TeraWulf Inc. has a 12-month low of $1.91 and a 12-month high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last released 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 analyst estimates of $37.43 million. The business's revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

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.