226,600 Shares in TeraWulf Inc. $WULF Bought by Freemont Management S.A.

Key Points

• Freemont Management S.A. disclosed a new first-quarter stake in TeraWulf, buying 226,600 shares worth about $3.27 million and representing 0.05% ownership.
• TeraWulf continues to attract institutional interest, with hedge funds and other investors owning 62.49% of the stock, even as some insiders have been selling shares.
• The company reported a weak quarter, with EPS of -$1.01 versus expectations of -$0.19, though analysts remain broadly positive with a Moderate Buy consensus and an average price target of $34.60.

Freemont Management S.A. purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 226,600 shares of the company's stock, valued at approximately $3,270,000. Freemont Management S.A. owned 0.05% of TeraWulf as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank grew its position in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC raised its holdings in TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. boosted its position in TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after purchasing an additional 2,258 shares in the last quarter. Creative Planning boosted its position in TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after purchasing an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in TeraWulf by 10.6% in the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock valued at $248,000 after purchasing an additional 5,432 shares during the period. Hedge funds and other institutional investors own 62.49% of the company's stock.

TeraWulf Stock Up 1.0%

Shares of WULF opened at $18.16 on Friday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a one year low of $4.64 and a one year high of $29.84. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of -7.32 and a beta of 3.73. The stock has a 50 day moving average price of $24.14 and a 200 day moving average price of $18.89.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm had revenue of $34.01 million during the quarter, compared to analysts' expectations of $34.69 million. During the same quarter in the previous year, the business posted ($0.16) EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts forecast that TeraWulf Inc. will post -1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and issued a $30.00 price target on shares of TeraWulf in a research note on Wednesday. Citigroup began coverage on shares of TeraWulf in a research report on Monday, June 29th. They set a "buy" rating and a $36.00 price objective for the company. Zacks Research lowered shares of TeraWulf from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 9th. Finally, B. Riley Financial boosted their target price on shares of TeraWulf from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.60.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock valued at $12,221,864 over the last quarter. Company insiders own 15.90% of the company's stock.

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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