BIT Capital GmbH Acquires 2,499,865 Shares of TeraWulf Inc. (NASDAQ:WULF)

BIT Capital GmbH raised its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 169.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 accounts for about 1.8% of BIT Capital GmbH's investment portfolio, making the stock its 18th largest holding. BIT Capital GmbH owned approximately 1.03% of TeraWulf worth $22,503,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton bought a new stake in shares of TeraWulf in the fourth quarter worth $32,000. FMR LLC boosted its holdings in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after purchasing an additional 1,408 shares during the period. Hodges Capital Management Inc. bought a new stake in TeraWulf during the third quarter valued at $47,000. Stifel Financial Corp acquired a new stake in shares of TeraWulf during the third quarter worth $47,000. Finally, Perigon Wealth Management LLC bought a new position in shares of TeraWulf in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on WULF. Rosenblatt Securities reaffirmed a "buy" rating and set a $10.00 target price on shares of TeraWulf in a report on Monday, March 3rd. B. Riley boosted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Atb Cap Markets upgraded shares of TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and a consensus price target of $8.71.

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TeraWulf Stock Down 0.6 %

Shares of NASDAQ:WULF traded down $0.02 during trading on Monday, reaching $2.71. 17,955,133 shares of the company traded hands, compared to its average volume of 42,247,438. The firm has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $5.44. TeraWulf Inc. has a 1-year low of $1.82 and a 1-year high of $9.30. The firm has a market cap of $1.04 billion, a P/E ratio of -13.53 and a beta of 2.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. The business's revenue for the quarter was up 50.2% on a year-over-year basis. As a group, research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current 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.