TeraWulf Inc. (NASDAQ:WULF) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its holdings in TeraWulf Inc. (NASDAQ:WULF) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,219 shares of the company’s stock after buying an additional 11,095 shares during the period. Arizona State Retirement System’s holdings in TeraWulf were worth $471,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WULF. Rosenberg Matthew Hamilton purchased a new position in TeraWulf in the fourth quarter valued at $32,000. FMR LLC increased its holdings in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the period. KBC Group NV acquired a new stake in TeraWulf in the 3rd quarter valued at about $39,000. Hodges Capital Management Inc. purchased a new position in shares of TeraWulf in the 3rd quarter valued at about $47,000. Finally, Stifel Financial Corp acquired a new position in shares of TeraWulf during the third quarter worth about $47,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Up 9.0 %

Shares of NASDAQ WULF opened at $3.26 on Friday. The business has a 50-day moving average price of $4.77 and a 200 day moving average price of $5.50. The stock has a market cap of $1.26 billion, a PE ratio of -16.30 and a beta of 2.70. TeraWulf Inc. has a 52-week low of $1.57 and a 52-week 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 for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm 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%. TeraWulf’s quarterly revenue was up 50.2% compared to the same quarter last year. Sell-side analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WULF. B. Riley raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Northland Securities restated an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Finally, Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.64.

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.