357,800 Shares in TeraWulf Inc. $WULF Bought by Tiptree Advisors LLC

Key Points

• Tiptree Advisors LLC acquired 357,800 TeraWulf shares worth approximately $8.84 million, making WULF about 5.5% of its portfolio. Institutional investors collectively own 62.49% of the company.
• Wall Street remains broadly positive, with analysts assigning TeraWulf a consensus “Moderate Buy” rating and an average price target of $34.21.
• TeraWulf reported a significant quarterly loss of $1.94 per share, missing the $0.24 consensus estimate, while revenue of $44.77 million declined 6% year over year.

Tiptree Advisors LLC acquired a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 357,800 shares of the company's stock, valued at approximately $8,838,000. TeraWulf makes up approximately 5.5% of Tiptree Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Tiptree Advisors LLC owned approximately 0.07% of TeraWulf at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. BlackRock Inc. bought a new stake in TeraWulf during the second quarter worth about $577,805,000. Bank of America Corp DE boosted its stake in TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock worth $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. Morgan Stanley grew its holdings in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock worth $110,778,000 after purchasing an additional 724,286 shares during the period. Finally, Geode Capital Management LLC grew its holdings in TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock worth $96,274,000 after purchasing an additional 318,842 shares during the period. Institutional investors own 62.49% of the company's stock.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella acquired 3,023 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $16.54 per share, with a total value of $50,000.42. Following the completion of the transaction, the director directly owned 341,844 shares of the company's stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WULF shares. HC Wainwright reiterated a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. Sanford C. Bernstein started coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target on the stock. Needham & Company LLC upped their price target on TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods reduced their price objective on TeraWulf from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group started coverage on TeraWulf in a research note on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.21.

TeraWulf Stock Performance

WULF stock opened at $15.97 on Thursday. The stock has a market capitalization of $7.97 billion, a PE ratio of -3.65 and a beta of 3.76. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84. 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's 50 day simple moving average is $20.03 and its 200 day simple moving average is $19.72.

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

TeraWulf Company Profile

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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