JPMorgan Chase & Co. Boosts Stock Position in TeraWulf Inc. (NASDAQ:WULF)

JPMorgan Chase & Co. boosted its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 668.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 847,177 shares of the company's stock after purchasing an additional 736,926 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of TeraWulf worth $4,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted 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 valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. Stifel Financial Corp bought a new position in TeraWulf during the 3rd quarter worth $47,000. State Street Corp grew its position in shares of TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company's stock valued at $29,405,000 after buying an additional 227,186 shares during the last quarter. Barclays PLC increased its position in shares of TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company's stock worth $1,989,000 after buying an additional 343,016 shares during the period. Finally, Geode Capital Management LLC raised its stake in TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company's stock worth $33,623,000 after buying an additional 820,354 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

NASDAQ WULF traded up $0.10 during trading on Thursday, hitting $2.89. 10,294,160 shares of the company's stock traded hands, compared to its average volume of 27,999,028. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -14.33 and a beta of 2.76. 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 $3.14 and a 200-day moving average of $5.14.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly 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 return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million during the quarter, compared to analysts' expectations of $37.43 million. The business's quarterly revenue was up 50.2% compared to the same quarter last year. On average, analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WULF shares. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a "market perform" rating for the company. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Rosenblatt Securities cut their target price on TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. 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 stock. According to MarketBeat, TeraWulf currently has an average rating of "Buy" and a consensus price target of $7.86.

TeraWulf Profile

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.