BIT Capital GmbH Increases Holdings in TeraWulf Inc. $WULF

BIT Capital GmbH increased its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,157,735 shares of the company's stock after purchasing an additional 420,572 shares during the quarter. BIT Capital GmbH owned about 0.28% of TeraWulf worth $13,302,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in WULF. Vanguard Group Inc. grew its position in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of TeraWulf in the third quarter valued at $69,006,000. Wellington Management Group LLP boosted its stake in TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company's stock valued at $44,559,000 after buying an additional 3,891,127 shares during the period. Bank of America Corp DE boosted its stake in TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after buying an additional 2,617,617 shares during the period. Finally, Jump Financial LLC bought a new stake in TeraWulf during the third quarter valued at $27,220,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Down 8.4%

WULF stock opened at $24.00 on Friday. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $27.47. The business's 50 day moving average price is $21.07 and its two-hundred day moving average price is $16.63. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of -9.68 and a beta of 3.82.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million during the quarter, compared to analysts' expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) EPS. As a group, analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WULF shares. Roth Mkm reissued a "buy" rating and set a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Arete Research started coverage on TeraWulf in a research note on Monday, March 23rd. They set a "buy" rating and a $30.00 price objective for the company. Jefferies Financial Group started coverage on TeraWulf in a research note on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective for the company. Needham & Company LLC lifted their price objective on TeraWulf from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, Citigroup reissued a "market outperform" rating on shares of TeraWulf in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of "Moderate Buy" and an average price target of $31.72.

Insider Activity

In other news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares of the company's stock, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 1,665 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the acquisition, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company's stock.

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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