1492 Capital Management LLC Acquires Shares of 85,120 TeraWulf Inc. (NASDAQ:WULF)

1492 Capital Management LLC bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, Holdings Channel reports. The firm bought 85,120 shares of the company’s stock, valued at approximately $482,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of TeraWulf during the fourth quarter worth $529,000. NewEdge Advisors LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth about $156,000. EAM Investors LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth about $2,514,000. Mariner LLC acquired a new stake in shares of TeraWulf during the 4th quarter valued at about $201,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of TeraWulf by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 27,993 shares of the company’s stock valued at $158,000 after buying an additional 5,445 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods began coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. B. Riley boosted their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. One research 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. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $7.86.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $2.35 on Friday. The stock’s 50-day moving average is $3.33 and its 200-day moving average is $5.20. The company has a market cap of $900.10 million, a P/E ratio of -11.75 and a beta of 2.76. TeraWulf Inc. has a 52-week low of $1.91 and a 52-week high of $9.30.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. As a group, equities analysts predict 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.