M&T Bank Corp Acquires New Shares in TeraWulf Inc. (NASDAQ:WULF)

M&T Bank Corp acquired a new stake in TeraWulf Inc. (NASDAQ:WULF) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,879 shares of the company’s stock, valued at approximately $76,000.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of TeraWulf by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company’s stock worth $13,980,000 after acquiring an additional 105,997 shares during the period. Soros Fund Management LLC acquired a new position in shares of TeraWulf in the fourth quarter worth approximately $8,632,000. Wellington Management Group LLP increased its holdings in TeraWulf by 1,760.0% in the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock worth $6,671,000 after purchasing an additional 1,115,228 shares in the last quarter. BIT Capital GmbH increased its holdings in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock worth $22,503,000 after purchasing an additional 2,499,865 shares in the last quarter. Finally, Senator Investment Group LP bought a new stake in TeraWulf in the fourth quarter worth approximately $24,371,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WULF has been the subject of a number of research analyst reports. Citizens Jmp upgraded TeraWulf to a “strong-buy” rating and set a $7.00 target price for the company in a report on Thursday, May 22nd. JMP Securities assumed coverage on TeraWulf in a report on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 price objective for the company. Jones Trading assumed coverage on TeraWulf in a report on Monday, March 31st. They set a “buy” rating and a $4.00 price objective for the company. Finally, Rosenblatt Securities boosted their price objective on TeraWulf from $4.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, June 12th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $8.06.

TeraWulf Stock Performance

Shares of WULF opened at $5.13 on Friday. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $9.30. The stock has a fifty day moving average price of $4.26 and a 200-day moving average price of $4.04. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03. The firm has a market cap of $1.97 billion, a PE ratio of -15.55 and a beta of 3.11.

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). TeraWulf had a negative return on equity of 42.09% and a negative net margin of 94.09%. The company had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. Equities research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

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.