Arvin Capital Management LP purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 594,177 shares of the company's stock, valued at approximately $3,363,000. TeraWulf makes up approximately 0.9% of Arvin Capital Management LP's portfolio, making the stock its 27th biggest position. Arvin Capital Management LP owned about 0.15% of TeraWulf as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock worth $43,232,000 after purchasing an additional 453,429 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TeraWulf by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after acquiring an additional 955,795 shares during the period. Van ECK Associates Corp raised its stake in TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock worth $26,964,000 after acquiring an additional 2,028,383 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of TeraWulf in the 4th quarter valued at $24,371,000. Finally, BIT Capital GmbH boosted its stake 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 valued at $22,503,000 after purchasing an additional 2,499,865 shares in the last quarter. Institutional investors own 62.49% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on WULF shares. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Northland Securities reiterated an "outperform" rating and set a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Rosenblatt Securities dropped their target price on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. One 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 company's stock. Based on data from MarketBeat, TeraWulf currently has an average rating of "Buy" and an average target price of $7.86.
Read Our Latest Report on TeraWulf
TeraWulf Stock Down 4.3 %
WULF opened at $2.25 on Tuesday. TeraWulf Inc. has a 12-month low of $1.91 and a 12-month high of $9.30. The business has a 50 day moving average of $3.23 and a 200-day moving average of $5.18. The stock has a market cap of $861.80 million, a price-to-earnings ratio of -11.25 and a beta of 2.76.
TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The firm's revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current year.
About TeraWulf
(
Free Report)
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.
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