Balyasny Asset Management L.P. Lowers Position in TeraWulf Inc. (NASDAQ:WULF)

Balyasny Asset Management L.P. trimmed its position in TeraWulf Inc. (NASDAQ:WULF) by 99.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,840 shares of the company’s stock after selling 2,598,035 shares during the period. Balyasny Asset Management L.P.’s holdings in TeraWulf were worth $95,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in TeraWulf by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after purchasing an additional 453,429 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after buying an additional 955,795 shares during the last quarter. Van ECK Associates Corp raised its position in TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after buying an additional 2,028,383 shares during the last quarter. Senator Investment Group LP bought a new position in TeraWulf during the 4th quarter valued at about $24,371,000. Finally, BIT Capital GmbH boosted its holdings in shares of TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WULF has been the subject of several research reports. Rosenblatt Securities decreased their price objective on shares of TeraWulf from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, May 12th. Jones Trading started coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a “buy” rating and a $4.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have issued 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 an average price target of $7.86.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $3.89 on Monday. TeraWulf Inc. has a 1-year low of $1.91 and a 1-year high of $9.30. The company’s fifty day simple moving average is $2.92 and its 200-day simple moving average is $4.88. The stock has a market capitalization of $1.50 billion, a PE ratio of -11.79 and a beta of 3.00.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share 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 analysts’ expectations 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 revenue was down 18.9% compared to the same quarter last year. As a group, research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

TeraWulf Company 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.