BlueCrest Capital Management Ltd Invests $11.95 Million in TeraWulf Inc. $WULF

Key Points

• BlueCrest Capital Management initiated an approximately $11.95 million position in TeraWulf, purchasing 483,594 shares and holding about 0.10% of the company. Institutional investors collectively own 62.49% of WULF.
• TeraWulf shares opened at $17.13 after declining 4.1%; the stock has traded between $10.04 and $29.84 over the past year. The company’s latest quarter missed estimates, reporting a $1.94 loss per share and $44.77 million in revenue.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and a $34.21 price target, although insiders have sold about $7.98 million of stock over the past three months.

BlueCrest Capital Management Ltd purchased a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 483,594 shares of the company's stock, valued at approximately $11,945,000. BlueCrest Capital Management Ltd owned approximately 0.10% of TeraWulf at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank lifted its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after purchasing an additional 12,370 shares during the last quarter. Millennium Management LLC grew its stake in shares of TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after buying an additional 793,832 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after buying an additional 2,258 shares during the last quarter. Creative Planning grew its stake in shares of TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after buying an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of TeraWulf by 10.6% during the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after buying an additional 5,432 shares in the last quarter. 62.49% of the stock is owned by institutional investors.

TeraWulf Trading Down 4.1%

Shares of WULF stock opened at $17.13 on Thursday. TeraWulf Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $29.84. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $19.73. The company has a market cap of $8.55 billion, a P/E ratio of -3.92 and a beta of 3.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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). The company had revenue of $44.77 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. Research analysts forecast that TeraWulf Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Paul B. Prager sold 137,500 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was 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. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 3,023 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the transaction, the director directly owned 341,844 shares of the company's stock, valued at $5,654,099.76. This trade represents a 0.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 405,626 shares of company stock valued at $7,980,928. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WULF shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. William Blair initiated coverage on TeraWulf in a research report on Friday, August 28th. They set an "outperform" rating on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $32.00 target price on shares of TeraWulf in a report on Wednesday, August 5th. Lucid Cap Mkts upgraded TeraWulf to a "strong-buy" rating in a research report on Wednesday, May 27th. Finally, HC Wainwright reissued a "buy" rating on shares of TeraWulf in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.21.

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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