TeraWulf Inc. (NASDAQ:WULF) Position Reduced by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its stake in TeraWulf Inc. (NASDAQ:WULF) by 27.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 333,064 shares of the company’s stock after selling 124,843 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in TeraWulf were worth $1,885,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Barclays PLC grew its position in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after acquiring an additional 343,016 shares in the last quarter. Franklin Resources Inc. increased its stake in TeraWulf by 10.4% during the third quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock valued at $3,081,000 after purchasing an additional 64,634 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of TeraWulf by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock worth $516,000 after buying an additional 4,756 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at about $933,000. Finally, Rosenberg Matthew Hamilton acquired a new position in TeraWulf in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Trading Down 8.8 %

NASDAQ:WULF opened at $3.01 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.12 and a beta of 3.00. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30. The business’s fifty day moving average price is $2.89 and its 200 day moving average price is $4.99.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data 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). The firm had revenue of $34.41 million for the quarter, compared to analysts’ expectations of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WULF. Rosenblatt Securities reduced their price target on shares of TeraWulf from $10.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Finally, Jones Trading assumed coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a “buy” rating and a $4.00 price objective on the stock. One research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.86.

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.