Alberta Investment Management Corp Acquires New Position in TeraWulf Inc. $WULF

Alberta Investment Management Corp acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 287,400 shares of the company's stock, valued at approximately $7,099,000. Alberta Investment Management Corp owned about 0.06% of TeraWulf at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $24,786,000. State of Wyoming purchased a new position in TeraWulf in the second quarter worth approximately $160,000. GSA Capital Partners LLP purchased a new position in TeraWulf in the second quarter worth approximately $1,990,000. Dockside LLC acquired a new stake in TeraWulf during the second quarter worth $1,427,000. Finally, Handelsbanken Fonder AB increased its stake in TeraWulf by 4.5% during the second quarter. Handelsbanken Fonder AB now owns 88,200 shares of the company's stock worth $2,179,000 after acquiring an additional 3,800 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Price Performance

WULF stock opened at $17.38 on Monday. 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 company has a market capitalization of $8.67 billion, a P/E ratio of -3.98 and a beta of 3.76. The business has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $19.60. TeraWulf Inc. has a twelve month low of $8.14 and a twelve month high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to analyst estimates 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 was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current year.

Wall Street Analyst Weigh In

WULF has been the topic of several recent analyst reports. Sanford C. Bernstein began 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. Jefferies Financial Group began coverage on TeraWulf in a research report on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of TeraWulf in a report on Wednesday, June 24th. Rosenblatt Securities reissued a "buy" rating and issued a $30.00 price target on shares of TeraWulf in a research note on Thursday, August 6th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.21.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated Monday, June 29th. The shares were 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 owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company's stock.

TeraWulf 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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