Sona Asset Management US LLC Sells 4,304,869 Shares of TeraWulf Inc. (NASDAQ:WULF)

Sona Asset Management US LLC decreased its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 89.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company's stock after selling 4,304,869 shares during the quarter. Sona Asset Management US LLC owned 0.13% of TeraWulf worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WULF. Rafferty Asset Management LLC acquired a new position in TeraWulf in the 4th quarter worth about $69,000. ProShare Advisors LLC grew its stake in shares of TeraWulf by 70.7% in the 4th quarter. ProShare Advisors LLC now owns 75,358 shares of the company's stock valued at $427,000 after buying an additional 31,219 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in TeraWulf by 12.7% in the fourth quarter. Nuveen Asset Management LLC now owns 681,240 shares of the company's stock worth $3,856,000 after buying an additional 76,840 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in TeraWulf during the fourth quarter valued at approximately $226,000. Finally, GeoSphere Capital Management LLC bought a new position in TeraWulf during the fourth quarter valued at approximately $3,679,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Price Performance

NASDAQ:WULF traded down $0.13 during midday trading on Wednesday, reaching $3.80. The stock had a trading volume of 48,353,044 shares, compared to its average volume of 30,044,202. The stock has a market capitalization of $1.46 billion, a P/E ratio of -11.38 and a beta of 3.00. TeraWulf Inc. has a 1-year low of $1.96 and a 1-year high of $9.30. The firm's fifty day simple moving average is $2.95 and its 200-day simple moving average is $4.86.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Jones Trading began coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. Rosenblatt Securities decreased their price objective on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, seven have assigned 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 a consensus 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.