Connor Clark & Lunn Investment Management Ltd. bought a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,508,580 shares of the company's stock, valued at approximately $61,962,000. Connor Clark & Lunn Investment Management Ltd. owned 0.50% of TeraWulf at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC increased its stake in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after acquiring an additional 747 shares during the last quarter. Advisory Services Network LLC bought a new position in TeraWulf during the 3rd quarter worth approximately $29,000. First United Bank & Trust acquired a new position in TeraWulf during the first quarter valued at approximately $37,000. Vermillion Wealth Management Inc. grew its holdings in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock valued at $30,000 after purchasing an additional 2,394 shares during the period. Finally, Solstein Capital LLC bought a new stake in TeraWulf in the fourth quarter valued at approximately $34,000. Institutional investors own 62.49% of the company's stock.
TeraWulf Stock Performance
Shares of WULF opened at $15.64 on Monday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a twelve month low of $8.60 and a twelve month high of $29.84. The firm's 50 day moving average price is $20.76 and its two-hundred day moving average price is $19.67. The firm has a market cap of $7.80 billion, a P/E ratio of -3.58 and a beta of 3.76.
TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter last year, the company earned ($0.05) EPS. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. On average, analysts forecast that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on WULF shares. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $46.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $37.00 price objective on shares of TeraWulf in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TeraWulf in a research note on Wednesday, June 24th. Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $30.00 target price on shares of TeraWulf in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.
Get Our Latest Stock Report on TeraWulf
Insider Buying and Selling at TeraWulf
In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares of the company's stock, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of the company's stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the purchase, the director directly owned 344,704 shares in the company, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 15.90% of the company's stock.
TeraWulf Profile
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Free Report)
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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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).
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