Alyeska Investment Group L.P. Invests $14.22 Million in TeraWulf Inc. $WULF

Key Points

• Alyeska Investment Group purchased 575,815 TeraWulf shares worth approximately $14.22 million in the second quarter, taking a 0.12% stake. Institutional investors collectively own 62.49% of the company.
• Director Michael Bucella bought 2,860 shares, while CEO Paul Prager sold 137,500 shares under a pre-arranged Rule 10b5-1 plan; insiders own 15.90% of TeraWulf.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $34.21 price target, despite TeraWulf reporting a larger-than-expected quarterly loss and a 6% year-over-year revenue decline.

Alyeska Investment Group L.P. bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 575,815 shares of the company's stock, valued at approximately $14,223,000. Alyeska Investment Group L.P. owned 0.12% of TeraWulf at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WULF. Comerica Bank lifted its holdings in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC grew its holdings in shares of TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of TeraWulf by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after purchasing an additional 2,258 shares during the last quarter. Creative Planning increased its position in shares of TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after purchasing an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after purchasing an additional 5,432 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TeraWulf

In related news, Director Michael C. Bucella bought 2,860 shares of TeraWulf stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the acquisition, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the sale, the chief executive officer owned 3,807,552 shares in the company, valued at $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $30.00 price objective on shares of TeraWulf in a research note on Friday, August 21st. B. Riley Financial lifted their target price on shares of TeraWulf from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reduced their target price on TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Compass Point set a $40.00 price target on TeraWulf in a research report on Monday, July 6th. Finally, Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.21.

TeraWulf Price Performance

WULF opened at $15.13 on Tuesday. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50 day simple moving average is $19.25 and its 200-day simple moving average is $19.71. The stock has a market capitalization of $7.55 billion, a P/E ratio of -3.46 and a beta of 3.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted 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 company 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%.The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. Sell-side analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

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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