Meeder Asset Management Inc. Invests $126,000 in TeraWulf Inc. (NASDAQ:WULF)

Meeder Asset Management Inc. purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,175 shares of the company’s stock, valued at approximately $126,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the last quarter. ARS Investment Partners LLC increased its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock valued at $68,000 after purchasing an additional 2,000 shares during the last quarter. Truist Financial Corp raised its holdings in TeraWulf by 5.0% during the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock valued at $297,000 after buying an additional 2,500 shares during the period. Xponance Inc. lifted its position in TeraWulf by 22.7% in the fourth quarter. Xponance Inc. now owns 19,156 shares of the company’s stock worth $108,000 after buying an additional 3,545 shares during the last quarter. Finally, KBC Group NV boosted its stake in TeraWulf by 49.3% during the fourth quarter. KBC Group NV now owns 12,349 shares of the company’s stock worth $70,000 after buying an additional 4,077 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Northland Securities reissued an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. B. Riley raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Jones Trading assumed coverage on shares of TeraWulf in a research report on Monday. They issued a “buy” rating and a $4.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.71.

TeraWulf Stock Performance

NASDAQ WULF opened at $2.88 on Wednesday. The company has a market cap of $1.10 billion, a PE ratio of -14.40 and a beta of 2.70. The firm’s 50 day moving average price is $4.09 and its 200-day moving average price is $5.42. TeraWulf Inc. has a 52-week low of $1.82 and a 52-week high of $9.30.

TeraWulf (NASDAQ:WULF) last announced its earnings results 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 company had revenue of $35.00 million for 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 firm’s revenue was up 50.2% on a year-over-year basis. On average, analysts forecast 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.