Price T Rowe Associates Inc. MD Buys 130,734 Shares of TeraWulf Inc. (NASDAQ:WULF)

Price T Rowe Associates Inc. MD raised its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 171.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 206,840 shares of the company’s stock after acquiring an additional 130,734 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.05% of TeraWulf worth $1,171,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WULF. Senator Investment Group LP bought a new position in TeraWulf during the 4th quarter valued at about $24,371,000. BIT Capital GmbH boosted its holdings 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 worth $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp increased its holdings in TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after purchasing an additional 2,028,383 shares in the last quarter. Wellington Management Group LLP raised its position in TeraWulf by 1,760.0% in the 4th quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock valued at $6,671,000 after purchasing an additional 1,115,228 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in TeraWulf by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on WULF shares. Jones Trading assumed coverage on TeraWulf in a report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. Finally, Rosenblatt Securities dropped their price target 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $7.86.

TeraWulf Stock Performance

Shares of WULF opened at $3.01 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of -15.05 and a beta of 3.00. TeraWulf Inc. has a 52 week low of $1.91 and a 52 week high of $9.30. The firm’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $5.00.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. The business’s revenue was down 18.9% on a year-over-year basis. As a group, equities analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

TeraWulf Company 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.