Soros Fund Management LLC Purchases Shares of 1,525,000 TeraWulf Inc. (NASDAQ:WULF)

Soros Fund Management LLC acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the 4th quarter, Holdings Channel reports. The fund acquired 1,525,000 shares of the company’s stock, valued at approximately $8,632,000.

Several other hedge funds have also recently made changes to their positions in WULF. Geode Capital Management LLC grew its stake in TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after purchasing an additional 453,429 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Van ECK Associates Corp boosted its position in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after buying an additional 2,028,383 shares during the last quarter. Senator Investment Group LP acquired a new position in TeraWulf in the 4th quarter worth approximately $24,371,000. Finally, BIT Capital GmbH raised its position in TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock worth $22,503,000 after buying an additional 2,499,865 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Keefe, Bruyette & Woods initiated coverage on TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. Rosenblatt Securities lowered their target price on TeraWulf from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Jones Trading started coverage on shares of TeraWulf in a report on Monday, March 31st. They set a “buy” rating and a $4.00 price target on the stock. One 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 company’s stock. Based on data from MarketBeat, TeraWulf presently has an average rating of “Buy” and a consensus price target of $7.86.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $3.02 on Tuesday. The stock’s 50 day simple moving average is $3.04 and its 200-day simple moving average is $5.14. The stock has a market cap of $1.16 billion, a P/E ratio of -15.10 and a beta of 2.76. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results 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). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. TeraWulf’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal 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.