Algert Global LLC lifted its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 179.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,637 shares of the company's stock after purchasing an additional 518,903 shares during the quarter. Algert Global LLC owned about 0.16% of TeraWulf worth $19,973,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in WULF. Advisory Services Network LLC bought a new stake in TeraWulf in the third quarter worth $29,000. Vermillion Wealth Management Inc. boosted its stake in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new position in TeraWulf in the 4th quarter worth about $34,000. Comerica Bank grew its position in 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 purchasing an additional 12,370 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.
TeraWulf Trading Down 1.0%
TeraWulf stock opened at $15.48 on Tuesday. The business has a 50-day simple moving average of $20.50 and a two-hundred day simple moving average of $19.67. The company has a market cap of $7.72 billion, a P/E ratio of -3.54 and a beta of 3.76. 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.
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 the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.TeraWulf's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. Analysts predict that TeraWulf Inc. will post -0.94 EPS for the current year.
Insider Buying and Selling at TeraWulf
In related news, Director Michael C. Bucella purchased 3,023 shares of the business's stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $16.54 per share, with a total value of $50,000.42. Following the completion of the acquisition, the director owned 341,844 shares of the company's stock, valued at approximately $5,654,099.76. This trade represents a 0.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of the company's 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 approximately $104,938,383.20. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have issued reports on WULF. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TeraWulf in a report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of TeraWulf in a report on Thursday, May 14th. They set a "buy" rating and a $28.00 price target on the stock. Morgan Stanley decreased their price objective on shares of TeraWulf from $72.00 to $62.50 and set an "overweight" rating for the company in a report on Thursday, August 13th. Bank of America started coverage on TeraWulf in a research report on Monday, June 15th. They issued a "buy" rating and a $34.00 price objective on the stock. Finally, Needham & Company LLC increased their target price on TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.21.
View Our Latest Analysis on WULF
TeraWulf Profile
(
Free Report)
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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