TeraWulf Inc. (NASDAQ:WULF) Shares Bought by BIT Capital GmbH

BIT Capital GmbH raised its holdings in TeraWulf Inc. (NASDAQ:WULF) by 169.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,975,768 shares of the company’s stock after acquiring an additional 2,499,865 shares during the quarter. TeraWulf makes up about 1.8% of BIT Capital GmbH’s holdings, making the stock its 18th largest holding. BIT Capital GmbH’s holdings in TeraWulf were worth $22,503,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after acquiring an additional 4,093 shares in the last quarter. Intech Investment Management LLC acquired a new position in TeraWulf during the 3rd quarter valued at approximately $340,000. Charles Schwab Investment Management Inc. raised its holdings in shares of TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after buying an additional 1,704,013 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of TeraWulf by 66.7% during the third quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock worth $681,000 after buying an additional 58,235 shares during the period. Finally, FMR LLC lifted its stake in shares of TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 target price on shares of TeraWulf in a report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a research 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 report on Sunday, January 5th. Finally, B. Riley upped their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.50.

TeraWulf Trading Down 11.3 %

Shares of NASDAQ:WULF opened at $2.91 on Thursday. TeraWulf Inc. has a 12-month low of $1.82 and a 12-month high of $9.30. The business has a 50 day moving average of $4.36 and a two-hundred day moving average of $5.45. The company has a market capitalization of $1.11 billion, a PE ratio of -14.55 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share 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 firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $37.43 million. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. Equities research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

About TeraWulf

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.