TeraWulf Inc. (NASDAQ:WULF) Shares Sold by Sona Asset Management US LLC

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton purchased a new position in TeraWulf in the 4th quarter worth $32,000. CoreCap Advisors LLC grew its position in shares of TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after acquiring an additional 3,054 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of TeraWulf during the 4th quarter valued at about $59,000. R Squared Ltd acquired a new stake in shares of TeraWulf during the 4th quarter valued at about $61,000. Finally, ARS Investment Partners LLC grew its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock valued at $68,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jones Trading assumed coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 price target on the stock. 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 note on Monday, May 12th. One 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. According to MarketBeat.com, TeraWulf presently has an average rating of "Buy" and an average target price of $7.86.

TeraWulf Price Performance

NASDAQ:WULF traded up $0.11 during trading hours on Monday, reaching $4.00. 49,656,678 shares of the company traded hands, compared to its average volume of 29,835,991. The firm's 50-day moving average is $2.92 and its 200-day moving average is $4.88. The stock has a market cap of $1.54 billion, a P/E ratio of -12.12 and a beta of 3.00. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share 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 during the quarter, compared to analysts' expectations of $45.72 million. The firm's quarterly revenue was down 18.9% on a year-over-year basis. As a group, research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current 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.