Geode Capital Management LLC Has $43.23 Million Stake in TeraWulf Inc. (NASDAQ:WULF)

Geode Capital Management LLC boosted its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,636,552 shares of the company's stock after buying an additional 453,429 shares during the period. Geode Capital Management LLC owned approximately 1.98% of TeraWulf worth $43,232,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company's stock valued at $37,000 after buying an additional 1,408 shares in the last quarter. ARS Investment Partners LLC boosted its stake in shares of TeraWulf by 20.0% in the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock valued at $68,000 after purchasing an additional 2,000 shares in the last quarter. Truist Financial Corp grew its holdings in shares of TeraWulf by 5.0% during the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company's stock valued at $297,000 after purchasing an additional 2,500 shares during the last quarter. Xponance Inc. increased its position in TeraWulf by 22.7% during the 4th quarter. Xponance Inc. now owns 19,156 shares of the company's stock worth $108,000 after purchasing an additional 3,545 shares in the last quarter. Finally, KBC Group NV lifted its stake in TeraWulf by 49.3% in the 4th quarter. KBC Group NV now owns 12,349 shares of the company's stock valued at $70,000 after purchasing an additional 4,077 shares during the last quarter. 62.49% of the stock is owned by institutional investors.

TeraWulf Trading Up 2.2 %

NASDAQ WULF traded up $0.05 during trading hours on Friday, hitting $2.35. 14,215,785 shares of the company's stock were exchanged, compared to its average volume of 27,799,085. The firm has a market cap of $900.10 million, a price-to-earnings ratio of -11.75 and a beta of 2.76. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30. The stock has a 50-day simple moving average of $3.28 and a 200 day simple moving average of $5.19.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. The company's quarterly revenue was up 50.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WULF shares. Rosenblatt Securities dropped their price target on TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Jones Trading began coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Northland Securities reiterated an "outperform" rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Finally, Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $7.86.

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.