Moore Capital Management LP Reduces Stock Position in TeraWulf Inc. (NASDAQ:WULF)

Moore Capital Management LP cut its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,825,170 shares of the company’s stock after selling 347,347 shares during the period. Moore Capital Management LP owned about 0.99% of TeraWulf worth $21,650,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its position in TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after acquiring an additional 343,016 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of TeraWulf by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 686,219 shares of the company’s stock worth $3,081,000 after purchasing an additional 64,634 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of TeraWulf by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company’s stock worth $516,000 after buying an additional 4,756 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in TeraWulf during the fourth quarter valued at approximately $933,000. Finally, Rosenberg Matthew Hamilton bought a new position in TeraWulf in the fourth quarter worth approximately $32,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Price Performance

Shares of WULF stock opened at $3.01 on Monday. The stock’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $4.98. The company has a market cap of $1.15 billion, a PE ratio of -9.12 and a beta of 3.00. TeraWulf Inc. has a 1 year low of $1.91 and a 1 year high of $9.30.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 company had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $45.72 million. The firm’s revenue was down 18.9% on a year-over-year basis. Equities research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Rosenblatt Securities cut their price target on TeraWulf from $10.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Needham & Company LLC restated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Finally, Jones Trading initiated coverage on shares of TeraWulf in a research note on Monday, March 31st. They set a “buy” rating and a $4.00 target price on the stock. One investment 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 stock. According to data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus price target of $7.86.

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.