Charles Schwab Investment Management Inc. Sells 62,569 Shares of TeraWulf Inc. $WULF

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in TeraWulf Inc. by 2.5%, selling 62,569 shares and holding approximately 2.4 million shares valued at $6.57 million as of the first quarter.
• Vanguard Group and other institutional investors increased their holdings in TeraWulf, with Vanguard owning over 23.8 million shares after a 2.3% increase.
• Analysts have varied ratings on TeraWulf, with Cantor Fitzgerald raising their price target from $11 to $14 and Wall Street Zen downgrading the stock from a "hold" to a "sell" rating.

Charles Schwab Investment Management Inc. cut its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,407,379 shares of the company's stock after selling 62,569 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of TeraWulf worth $6,572,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in TeraWulf by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock worth $65,193,000 after buying an additional 534,315 shares during the last quarter. Driehaus Capital Management LLC lifted its position in TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock valued at $72,070,000 after acquiring an additional 412,877 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after acquiring an additional 955,795 shares in the last quarter. Northern Trust Corp lifted its position in TeraWulf by 15.6% in the 4th quarter. Northern Trust Corp now owns 2,603,141 shares of the company's stock valued at $14,734,000 after acquiring an additional 352,202 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in TeraWulf by 34.7% in the 4th quarter. Vident Advisory LLC now owns 2,048,076 shares of the company's stock valued at $11,592,000 after acquiring an additional 527,662 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the transaction, the director owned 40,769 shares in the company, valued at approximately $352,244.16. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WULF shares. Cantor Fitzgerald upped their price objective on TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. JMP Securities upped their price objective on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a research report on Friday, August 15th. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of TeraWulf from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Northland Securities increased their price target on shares of TeraWulf from $12.00 to $15.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $11.22.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $9.24 on Wednesday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a fifty day moving average price of $5.60 and a 200 day moving average price of $4.20. TeraWulf Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $10.71. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -26.40 and a beta of 3.17.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The company had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. During the same quarter in the prior year, the company posted ($0.03) EPS. TeraWulf's revenue was up 33.9% compared to the same quarter last year. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.

Want to see what other hedge funds are holding WULF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TeraWulf Inc. (NASDAQ:WULF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.