Harvest Investment Services LLC Makes New $278,000 Investment in TeraWulf Inc. (NASDAQ:WULF)

Harvest Investment Services LLC bought a new position in TeraWulf Inc. (NASDAQ:WULF) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 49,056 shares of the company’s stock, valued at approximately $278,000.

Other institutional investors have also made changes to their positions in the company. Senator Investment Group LP acquired a new position in TeraWulf in the 4th quarter worth approximately $24,371,000. BIT Capital GmbH boosted its position in shares of TeraWulf by 169.4% in the fourth 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 period. Van ECK Associates Corp grew its holdings in shares of TeraWulf by 74.2% during 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 in the last quarter. Wellington Management Group LLP raised its position in TeraWulf by 1,760.0% during the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock valued at $6,671,000 after buying an additional 1,115,228 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after acquiring an additional 955,795 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WULF. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Rosenblatt Securities cut their target price on shares of TeraWulf from $10.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Finally, Jones Trading began coverage on TeraWulf in a research report on Monday, March 31st. They set a “buy” rating and a $4.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.86.

TeraWulf Stock Performance

WULF opened at $2.65 on Wednesday. The firm has a market cap of $1.02 billion, a P/E ratio of -13.25 and a beta of 2.76. The business has a 50 day moving average price of $3.18 and a 200 day moving average price of $5.16. TeraWulf Inc. has a twelve month low of $1.91 and a twelve month high of $9.30.

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