Ameriprise Financial Inc. Raises Holdings in TeraWulf Inc. (NASDAQ:WULF)

Ameriprise Financial Inc. boosted its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,884 shares of the company’s stock after buying an additional 34,609 shares during the period. Ameriprise Financial Inc.’s holdings in TeraWulf were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WULF. Perigon Wealth Management LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth $59,000. Forum Financial Management LP purchased a new position in shares of TeraWulf in the 4th quarter worth approximately $68,000. KBC Group NV grew its position in shares of TeraWulf by 49.3% in the 4th 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 last quarter. Florida Financial Advisors LLC bought a new position in shares of TeraWulf during the 4th quarter worth approximately $73,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in TeraWulf during the fourth quarter valued at approximately $79,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $3.61 on Tuesday. The stock has a market cap of $1.39 billion, a PE ratio of -10.94 and a beta of 3.00. The firm has a fifty day moving average price of $3.07 and a 200 day moving average price of $4.60. TeraWulf Inc. has a 1 year low of $2.04 and a 1 year high of $9.30.

TeraWulf (NASDAQ:WULF) last announced its quarterly 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 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.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JMP Securities began coverage on TeraWulf in a research report on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 target price on the stock. Rosenblatt Securities lowered their target price on shares of TeraWulf from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Jones Trading started coverage on shares of TeraWulf in a research note on Monday, March 31st. They set a “buy” rating and a $4.00 price target on the stock. Finally, Citizens Jmp upgraded shares of TeraWulf to a “strong-buy” rating and set a $7.00 price objective for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $7.67.

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.