Senator Investment Group LP Invests $24.37 Million in TeraWulf Inc. (NASDAQ:WULF)

Senator Investment Group LP bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,305,785 shares of the company’s stock, valued at approximately $24,371,000.

Other hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its stake in shares of TeraWulf by 36.9% during the fourth quarter. MetLife Investment Management LLC now owns 160,964 shares of the company’s stock worth $911,000 after acquiring an additional 43,388 shares during the last quarter. Dimensional Fund Advisors LP grew its position in TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares during the last quarter. First Trust Advisors LP grew its position in TeraWulf by 136.5% during the 4th quarter. First Trust Advisors LP now owns 1,389,616 shares of the company’s stock worth $7,865,000 after purchasing an additional 801,979 shares during the last quarter. Forum Financial Management LP acquired a new position in TeraWulf during the 4th quarter valued at approximately $68,000. Finally, 1492 Capital Management LLC purchased a new position in shares of TeraWulf in the fourth quarter worth $482,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Up 2.2 %

NASDAQ:WULF opened at $2.35 on Monday. TeraWulf Inc. has a 52 week low of $1.91 and a 52 week high of $9.30. The stock’s 50-day moving average price is $3.28 and its 200-day moving average price is $5.19. The stock has a market capitalization of $900.10 million, a PE ratio of -11.75 and a beta of 2.76.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business’s revenue was up 50.2% compared to the same quarter last year. Sell-side analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research report on Monday, January 13th. Jones Trading assumed coverage on TeraWulf in a report on Monday, March 31st. They issued a “buy” rating and a $4.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.86.

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.