1,601,057 Shares in TeraWulf Inc. $WULF Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board initiated a position of 1,601,057 TeraWulf shares worth approximately $39.5 million, representing about 0.32% of the company. Institutional investors collectively own 62.49% of WULF.
• TeraWulf reported a quarterly loss of $1.94 per share, far below analysts’ expected loss of $0.24, while revenue fell 6% year over year to $44.77 million.
• Wall Street remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $34.21, versus a recent price of $16.49.

Canada Pension Plan Investment Board bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,601,057 shares of the company's stock, valued at approximately $39,546,000. Canada Pension Plan Investment Board owned about 0.32% of TeraWulf at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the period. Engle Capital Management L.P. raised its position in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company's stock valued at $1,610,000 after purchasing an additional 43,574 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of TeraWulf by 178.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company's stock worth $1,735,000 after buying an additional 96,843 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of TeraWulf during the 1st quarter worth $53,418,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

NASDAQ:WULF opened at $16.49 on Friday. TeraWulf Inc. has a 1 year low of $8.60 and a 1 year high of $29.84. The firm has a 50 day moving average of $19.78 and a 200-day moving average of $19.73. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market capitalization of $8.23 billion, a P/E ratio of -3.77 and a beta of 3.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same quarter last year, the company earned ($0.05) EPS. The firm's quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares of the company's stock, valued at $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 2,860 shares of the firm's stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $17.47 per share, with a total value of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares of the company's stock, valued at $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 15.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WULF. Citigroup assumed coverage on TeraWulf in a research report on Monday, June 29th. They issued a "buy" rating and a $36.00 price target on the stock. Bank of America began coverage on TeraWulf in a research report on Monday, June 15th. They set a "buy" rating and a $34.00 price objective for the company. Zacks Research upgraded TeraWulf from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $30.00 price target on shares of TeraWulf in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.21.

About TeraWulf

TeraWulf, Inc NASDAQ: WULF is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

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