Cresset Asset Management LLC Has $124,000 Holdings in TeraWulf Inc. (NASDAQ:WULF)

Cresset Asset Management LLC cut its position in TeraWulf Inc. (NASDAQ:WULF) by 98.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,850 shares of the company’s stock after selling 1,652,357 shares during the quarter. Cresset Asset Management LLC’s holdings in TeraWulf were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WULF. Barclays PLC grew its stake in TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after buying an additional 343,016 shares during the last quarter. JPMorgan Chase & Co. grew its stake in TeraWulf by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock valued at $516,000 after buying an additional 4,756 shares during the last quarter. Lionsbridge Wealth Management LLC acquired a new position in TeraWulf in the 4th quarter valued at $194,000. ARS Investment Partners LLC grew its stake in TeraWulf by 20.0% in the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock valued at $68,000 after buying an additional 2,000 shares during the last quarter. Finally, XML Financial LLC acquired a new position in TeraWulf in the 4th quarter valued at $85,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Rosenblatt Securities lowered their target price on shares of TeraWulf from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Jones Trading assumed coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target for the company. 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, the company presently has a consensus rating of “Buy” and a consensus target price of $7.86.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $3.89 on Monday. TeraWulf Inc. has a fifty-two week low of $1.91 and a fifty-two week high of $9.30. The firm has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $4.88. The company has a market cap of $1.50 billion, a PE ratio of -11.79 and a beta of 3.00.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $34.41 million for the quarter, compared to the consensus estimate of $45.72 million. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. Analysts expect 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.