Bank of New York Mellon Corp Has $4.20 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Bank of New York Mellon Corp raised its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 742,656 shares of the company’s stock after purchasing an additional 56,312 shares during the period. Bank of New York Mellon Corp owned 0.19% of TeraWulf worth $4,203,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after buying an additional 2,028,383 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares during the period. Geode Capital Management LLC boosted its holdings in TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock valued at $33,623,000 after acquiring an additional 820,354 shares during the period. Tidal Investments LLC grew its position in shares of TeraWulf by 1,389.8% in the third quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after purchasing an additional 810,382 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF stock opened at $2.96 on Wednesday. The firm has a fifty day moving average of $4.64 and a 200-day moving average of $5.50. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -14.80 and a beta of 2.70. TeraWulf Inc. has a 52-week low of $1.57 and a 52-week high of $9.30.

TeraWulf (NASDAQ:WULF) last posted its earnings results 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 business had revenue of $35.00 million during 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%. TeraWulf’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, sell-side analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on WULF shares. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Northland Securities restated an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a “market perform” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.64.

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.