Intrinsic Edge Capital Management LLC Increases Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Intrinsic Edge Capital Management LLC raised its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 403,733 shares of the company's stock after buying an additional 113,089 shares during the quarter. Intrinsic Edge Capital Management LLC owned about 0.10% of TeraWulf worth $2,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock worth $43,232,000 after acquiring an additional 453,429 shares during the period. Dimensional Fund Advisors LP raised its position in TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock worth $30,387,000 after acquiring an additional 955,795 shares during the period. Van ECK Associates Corp raised its position 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 during the period. Senator Investment Group LP acquired a new position in TeraWulf during the fourth quarter worth $24,371,000. Finally, BIT Capital GmbH raised its position in TeraWulf by 169.4% during the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Price Performance

Shares of WULF traded up $0.02 during mid-day trading on Monday, reaching $3.02. The stock had a trading volume of 48,698,033 shares, compared to its average volume of 28,429,033. TeraWulf Inc. has a 52-week low of $1.91 and a 52-week high of $9.30. The business's fifty day moving average is $3.04 and its 200 day moving average is $5.14. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -15.10 and a beta of 2.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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). The company had revenue of $35.00 million for the quarter, compared to analysts' expectations 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 was up 50.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Atb Cap Markets raised shares of TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a "market perform" rating for the company. Finally, Jones Trading began coverage on shares of TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 target price for the company. 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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.