Victory Capital Management Inc. Buys 58,422 Shares of TeraWulf Inc. (NASDAQ:WULF)

Victory Capital Management Inc. raised its stake in TeraWulf Inc. (NASDAQ:WULF) by 167.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,288 shares of the company’s stock after purchasing an additional 58,422 shares during the period. Victory Capital Management Inc.’s holdings in TeraWulf were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WULF. Van ECK Associates Corp lifted 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 acquiring an additional 2,028,383 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of TeraWulf by 258.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares during the period. Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after acquiring an additional 820,354 shares during the period. Tidal Investments LLC lifted its holdings in shares of TeraWulf by 1,389.8% during the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock worth $4,065,000 after acquiring an additional 810,382 shares during the period. Finally, Barclays PLC lifted its holdings in shares of TeraWulf by 419.7% during 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 during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Trading Down 0.3 %

WULF opened at $3.20 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of -16.00 and a beta of 2.70. TeraWulf Inc. has a 1-year low of $1.82 and a 1-year high of $9.30. The firm has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $5.46.

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

Analyst Ratings Changes

WULF has been the subject of a number of analyst reports. B. Riley raised their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Northland Securities reissued an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Finally, Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. One 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.50.

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.