Alight Capital Management LP Sells 200,000 Shares of TeraWulf Inc. $WULF

Key Points

• Alight Capital Management LP significantly reduced its stake in TeraWulf Inc. by 57.1%, selling 200,000 shares and now holding 150,000 shares worth $410,000.
• TeraWulf reported a quarterly revenue of $47.64 million, exceeding analysts' expectations, but missed EPS estimates at ($0.05), highlighting ongoing financial challenges.
• Analysts have revised their price targets for TeraWulf, with B. Riley increasing its target from $8.00 to $14.00, reflecting optimistic growth expectations despite a fluctuating stock performance.

Alight Capital Management LP lowered its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 57.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company's stock after selling 200,000 shares during the quarter. Alight Capital Management LP's holdings in TeraWulf were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC increased its stake in shares of TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after buying an additional 3,054 shares during the period. Voya Investment Management LLC increased its stake in shares of TeraWulf by 4.8% in the fourth quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock valued at $446,000 after buying an additional 3,628 shares during the period. Apollon Wealth Management LLC increased its stake in shares of TeraWulf by 18.5% in the first quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock valued at $86,000 after buying an additional 4,920 shares during the period. SG Americas Securities LLC increased its stake in shares of TeraWulf by 6.2% in the first quarter. SG Americas Securities LLC now owns 130,322 shares of the company's stock valued at $356,000 after buying an additional 7,597 shares during the period. Finally, Florida Financial Advisors LLC increased its stake in shares of TeraWulf by 65.1% in the first quarter. Florida Financial Advisors LLC now owns 21,280 shares of the company's stock valued at $58,000 after buying an additional 8,392 shares during the period. Institutional investors and hedge funds own 62.49% of the company's stock.

Insider Activity

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the transaction, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.88% of the company's stock.

TeraWulf Trading Up 2.9%

Shares of TeraWulf stock traded up $0.26 on Friday, reaching $9.13. 26,927,691 shares of the company's stock were exchanged, compared to its average volume of 65,318,880. The company has a market capitalization of $3.72 billion, a P/E ratio of -26.09 and a beta of 3.36. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $10.71. The firm's 50-day moving average is $6.45 and its two-hundred day moving average is $4.45. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The business had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.TeraWulf's quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Sell-side analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WULF shares. Cantor Fitzgerald upped their price objective on TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective for the company in a research note on Thursday, May 22nd. JMP Securities upped their target price on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a report on Friday, August 15th. Roth Capital upped their target price on TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, B. Riley upped their target price on TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $11.22.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.