BIT Capital GmbH Purchases 2,499,865 Shares of TeraWulf Inc. (NASDAQ:WULF)

BIT Capital GmbH raised its position in TeraWulf Inc. (NASDAQ:WULF) by 169.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,975,768 shares of the company’s stock after purchasing an additional 2,499,865 shares during the quarter. TeraWulf accounts for approximately 1.8% of BIT Capital GmbH’s holdings, making the stock its 18th biggest holding. BIT Capital GmbH owned approximately 1.03% of TeraWulf worth $22,503,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WULF. Victory Capital Management Inc. raised its holdings in shares of TeraWulf by 13.3% in the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after buying an additional 4,093 shares during the period. Intech Investment Management LLC bought a new position in TeraWulf in the 3rd quarter valued at $340,000. Charles Schwab Investment Management Inc. increased its stake in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of TeraWulf by 66.7% during the third quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock worth $681,000 after purchasing an additional 58,235 shares during the last quarter. Finally, 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 during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 11.3 %

Shares of NASDAQ WULF opened at $2.91 on Thursday. The stock has a market capitalization of $1.11 billion, a PE ratio of -14.55 and a beta of 2.70. The stock’s fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $5.45. TeraWulf Inc. has a 12-month low of $1.82 and a 12-month high of $9.30.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, equities analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on WULF. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. 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. Northland Securities reissued an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods began coverage on TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $9.50.

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.