KLP Kapitalforvaltning AS Acquires New Position in TeraWulf Inc. (NASDAQ:WULF)

KLP Kapitalforvaltning AS bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,300 shares of the company’s stock, valued at approximately $330,000.

Other large investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its position 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 last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $11,063,000 after acquiring an additional 1,704,013 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of TeraWulf by 12.9% in the third 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 last quarter. Tidal Investments LLC boosted its stake in shares of TeraWulf by 1,389.8% in the 3rd 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 in the last quarter. Finally, Barclays PLC grew 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 valued at $1,989,000 after purchasing an additional 343,016 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WULF. Rosenblatt Securities restated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Monday, March 3rd. B. Riley increased their price target on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jones Trading started coverage on TeraWulf in a research report on Monday, March 31st. They set a “buy” rating and a $4.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.71.

TeraWulf Trading Down 1.9 %

Shares of WULF stock opened at $2.60 on Friday. TeraWulf Inc. has a 1-year low of $1.82 and a 1-year high of $9.30. The stock has a market cap of $995.85 million, a price-to-earnings ratio of -13.00 and a beta of 2.76. The stock has a 50-day moving average of $3.88 and a 200-day moving average of $5.39.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, February 28th. The company reported ($0.08) EPS 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 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 company’s revenue was up 50.2% compared to the same quarter last year. Sell-side analysts forecast that TeraWulf Inc. will post -0.17 earnings per share 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.