Exchange Traded Concepts LLC Acquires 346,750 Shares of TeraWulf Inc. (NASDAQ:WULF)

Exchange Traded Concepts LLC boosted its holdings in TeraWulf Inc. (NASDAQ:WULF) by 26.3% in the 1st quarter, HoldingsChannel reports. The firm owned 1,663,536 shares of the company’s stock after purchasing an additional 346,750 shares during the quarter. Exchange Traded Concepts LLC’s holdings in TeraWulf were worth $4,541,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its position in shares of TeraWulf by 20.5% during the fourth quarter. Apollon Wealth Management LLC now owns 26,612 shares of the company’s stock worth $151,000 after acquiring an additional 4,529 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in TeraWulf by 30.0% in the 4th quarter. Vontobel Holding Ltd. now owns 52,784 shares of the company’s stock worth $299,000 after purchasing an additional 12,172 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of TeraWulf by 15.0% during the 4th quarter. Rhumbline Advisers now owns 347,001 shares of the company’s stock valued at $1,964,000 after purchasing an additional 45,322 shares during the last quarter. JFS Wealth Advisors LLC grew its position in shares of TeraWulf by 11.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 50,000 shares of the company’s stock valued at $283,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of TeraWulf by 5.0% during the fourth quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock valued at $297,000 after purchasing an additional 2,500 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WULF shares. JMP Securities began coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a “market outperform” rating and a $7.00 target price on the stock. Citizens Jmp raised TeraWulf to a “strong-buy” rating and set a $7.00 price objective on the stock in a report on Thursday, May 22nd. Rosenblatt Securities raised their target price on shares of TeraWulf from $4.50 to $6.00 and gave the company a “buy” rating in a report on Thursday. Finally, Jones Trading started coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $7.89.

TeraWulf Stock Down 5.6%

NASDAQ WULF opened at $4.02 on Monday. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $9.30. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -12.18 and a beta of 3.09. The company has a fifty day moving average of $3.34 and a two-hundred day moving average of $4.42.

TeraWulf (NASDAQ:WULF) last released its 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). The firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business’s revenue was down 18.9% on a year-over-year basis. Equities research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

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.