Oppenheimer & Co. Inc. Lowers Position in TeraWulf Inc. (NASDAQ:WULF)

Oppenheimer & Co. Inc. lowered its holdings in TeraWulf Inc. (NASDAQ:WULF) by 48.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,018 shares of the company’s stock after selling 47,500 shares during the period. Oppenheimer & Co. Inc.’s holdings in TeraWulf were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of TeraWulf in the 4th quarter valued at about $221,000. SRN Advisors LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at about $792,000. Bank of New York Mellon Corp raised its holdings in shares of TeraWulf by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 742,656 shares of the company’s stock valued at $4,203,000 after acquiring an additional 56,312 shares in the last quarter. Matauro LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at about $192,000. Finally, Ieq Capital LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at about $285,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WULF shares. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, March 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Keefe, Bruyette & Woods started coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. Finally, B. Riley raised their price objective on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Price Performance

WULF opened at $3.60 on Friday. The stock’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $5.56. TeraWulf Inc. has a 1 year low of $1.57 and a 1 year high of $9.30. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -18.00 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) 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 company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

About TeraWulf

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.