838,560 Shares in TeraWulf Inc. $WULF Acquired by Ranger Investment Management L.P.

Key Points

• Ranger Investment Management acquired 838,560 TeraWulf shares worth approximately $20.7 million, while institutional investors collectively own 62.49% of the company.
• TeraWulf reported a quarterly loss of $1.94 per share, significantly missing the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• Despite the weak results, analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.21, well above the stock’s reported price of $15.64.

Ranger Investment Management L.P. acquired a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 838,560 shares of the company's stock, valued at approximately $20,712,000. Ranger Investment Management L.P. owned approximately 0.17% of TeraWulf at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of TeraWulf during the second quarter valued at $577,805,000. Vanguard Group Inc. lifted its stake in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new position in TeraWulf during the 3rd quarter valued at about $69,006,000. Wellington Management Group LLP boosted its holdings in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company's stock valued at $44,559,000 after acquiring an additional 3,891,127 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in TeraWulf in the first quarter worth approximately $53,418,000. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Performance

NASDAQ WULF opened at $15.64 on Monday. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market capitalization of $7.80 billion, a PE ratio of -3.58 and a beta of 3.76. The firm has a 50 day moving average of $20.76 and a two-hundred day moving average of $19.67.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million during 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%. TeraWulf's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, research analysts expect that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

WULF has been the topic of several research analyst reports. Chardan Capital reissued a "buy" rating and set a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Keefe, Bruyette & Woods lowered their price objective on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $37.00 target price on shares of TeraWulf in a report on Wednesday, July 15th. Oppenheimer restated an "outperform" rating and set a $35.00 target price on shares of TeraWulf in a research note on Wednesday, May 27th. Finally, Citigroup assumed coverage on shares of TeraWulf in a research report on Monday, June 29th. They set a "buy" rating and a $36.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of the company's stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the acquisition, the director directly owned 344,704 shares of the company's stock, valued at $6,021,978.88. This represents a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 15.90% of the stock is currently owned by corporate insiders.

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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