Tower Research Capital LLC TRC Cuts Holdings in TeraWulf Inc. (NASDAQ:WULF)

Tower Research Capital LLC TRC decreased its holdings in TeraWulf Inc. (NASDAQ:WULF) by 94.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,620 shares of the company’s stock after selling 208,368 shares during the period. Tower Research Capital LLC TRC’s holdings in TeraWulf were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Rosenberg Matthew Hamilton bought a new stake in shares of TeraWulf in the 4th quarter worth approximately $32,000. Perigon Wealth Management LLC purchased a new stake in shares of TeraWulf in the 4th quarter worth about $59,000. R Squared Ltd purchased a new stake in TeraWulf during the 4th quarter valued at about $61,000. ARS Investment Partners LLC grew its position in 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. Finally, Forum Financial Management LP purchased a new stake in shares of TeraWulf during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

WULF has been the topic of several recent research reports. Rosenblatt Securities lowered their price objective on shares of TeraWulf from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Jones Trading assumed 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average target price of $7.86.

TeraWulf Price Performance

TeraWulf stock opened at $3.01 on Monday. The stock has a market cap of $1.15 billion, a P/E ratio of -9.12 and a beta of 3.00. TeraWulf Inc. has a 1 year low of $1.91 and a 1 year high of $9.30. The firm’s 50 day moving average price is $2.89 and its 200-day moving average price is $4.98.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. As a group, equities analysts expect that TeraWulf Inc. will post -0.17 EPS for the current 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.