Assenagon Asset Management S.A. Buys Shares of 668,022 TeraWulf Inc. $WULF

Assenagon Asset Management S.A. bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 668,022 shares of the company's stock, valued at approximately $16,500,000. Assenagon Asset Management S.A. owned 0.13% of TeraWulf as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in TeraWulf by 25.2% during the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company's stock valued at $84,000 after purchasing an additional 681 shares during the period. CoreCap Advisors LLC raised its stake in shares of TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after buying an additional 747 shares during the period. R Squared Ltd lifted its position in shares of TeraWulf by 5.0% during the 4th quarter. R Squared Ltd now owns 22,207 shares of the company's stock valued at $255,000 after buying an additional 1,056 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of TeraWulf by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 63,005 shares of the company's stock valued at $724,000 after buying an additional 1,259 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of TeraWulf by 14.5% during the 4th quarter. IFP Advisors Inc now owns 12,378 shares of the company's stock worth $142,000 after acquiring an additional 1,563 shares during the period. Hedge funds and other institutional investors own 62.49% of the company's stock.

Insider Activity

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

TeraWulf Stock Performance

TeraWulf stock opened at $16.20 on Tuesday. The firm's 50 day simple moving average is $22.36 and its 200 day simple moving average is $19.51. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The firm has a market capitalization of $8.08 billion, a PE ratio of -3.71 and a beta of 3.76. TeraWulf Inc. has a 1-year low of $5.02 and a 1-year high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The firm had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 512.60%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. As a group, analysts expect that TeraWulf Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WULF has been the subject of several recent research reports. Lucid Cap Mkts raised TeraWulf to a "strong-buy" rating in a report on Wednesday, May 27th. Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective on the stock. Citigroup assumed coverage on shares of TeraWulf in a research report on Monday, June 29th. They set a "buy" rating and a $36.00 target price for the company. Zacks Research lowered shares of TeraWulf from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 9th. Finally, B. Riley Financial upped their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.74.

TeraWulf Company 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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