Assenagon Asset Management S.A. Acquires 2,177,134 Shares of TeraWulf Inc. $WULF

Key Points

• Assenagon Asset Management increased its TeraWulf stake by 325.9%, adding 2.18 million shares to own 2.85 million shares, or 0.57% of the company. Institutional investors collectively hold 62.49% of WULF.
• TeraWulf’s stock was trading down 7.4% at $11.68, near its 52-week low, after reporting a significantly wider-than-expected quarterly loss of $1.94 per share and a 6% year-over-year revenue decline.
• Despite weak recent results, analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $32.52 price target versus the reported trading price. Insider activity was mixed, including a director sale of 130,626 shares and purchases by insiders over the past 90 days.

Assenagon Asset Management S.A. raised its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 325.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,845,156 shares of the company's stock after purchasing an additional 2,177,134 shares during the quarter. Assenagon Asset Management S.A. owned 0.57% of TeraWulf worth $42,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WULF. CoreCap Advisors LLC raised its stake in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after acquiring an additional 747 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of TeraWulf during the second quarter valued at approximately $41,000. First United Bank & Trust bought a new stake in TeraWulf during the 1st quarter valued at $37,000. Solstein Capital LLC bought a new stake in TeraWulf during the second quarter valued at about $74,000. Finally, Summit Securities Group LLC purchased a new position in shares of TeraWulf in the 1st quarter worth approximately $48,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Trading Down 7.4%

TeraWulf stock opened at $11.68 on Friday. 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 Inc. has a 52 week low of $10.35 and a 52 week high of $29.84. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -2.67 and a beta of 3.80. The stock has a 50-day moving average price of $15.55 and a 200 day moving average price of $19.58.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to analysts' expectations of $46.00 million. During the same period last year, the company earned ($0.05) earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. Sell-side analysts anticipate that TeraWulf Inc. will post -1.00 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WULF. TD Cowen assumed coverage on TeraWulf in a report on Monday, October 12th. They set a "buy" rating and a $21.00 price objective for the company. Wells Fargo & Company began coverage on TeraWulf in a research note on Thursday, September 17th. They set an "overweight" rating and a $30.00 target price on the stock. B. Riley Financial boosted their target price on TeraWulf from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. UBS Group began coverage on TeraWulf in a research report on Wednesday, September 23rd. They set a "buy" rating and a $24.00 target price on the stock. Finally, Rothschild & Co Redburn started coverage on TeraWulf in a research note on Monday, September 21st. They issued a "neutral" rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.52.

Insider Activity at TeraWulf

In other TeraWulf news, Director Walter E. Carter sold 130,626 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the sale, the director owned 229,090 shares in the company, valued at approximately $3,468,422.60. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael C. Bucella acquired 6,085 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the transaction, the director owned 350,789 shares in the company, valued at approximately $5,188,169.31. This represents a 1.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 11,968 shares of company stock worth $189,962. 15.90% of the stock is owned by corporate insiders.

About TeraWulf

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.

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