CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 135,000 Shares of TeraWulf Inc. $WULF

Key Points

• NXG Investment Management acquired 135,000 TeraWulf shares in the third quarter, valued at approximately $2.0 million. Institutional investors collectively own 62.49% of the company.
• Analyst sentiment is broadly positive, with TeraWulf receiving a consensus “Moderate Buy” rating and an average price target of $32.52, despite some firms downgrading the stock to “sell” or “strong sell.”
• TeraWulf reported a significant quarterly loss of $1.94 per share, well below the $0.24 consensus estimate, while revenue declined 6% year over year to $44.77 million.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 135,000 shares of the company's stock, valued at approximately $1,998,000.

Several other large investors have also bought and sold shares of WULF. CoreCap Advisors LLC boosted its holdings in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock worth $36,000 after purchasing an additional 747 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in TeraWulf during the second quarter worth $41,000. Solstein Capital LLC bought a new stake in TeraWulf during the second quarter worth $74,000. Summit Securities Group LLC bought a new stake in TeraWulf during the first quarter worth $48,000. Finally, GAMMA Investing LLC boosted its position in TeraWulf by 25.2% in the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company's stock worth $84,000 after purchasing an additional 681 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WULF shares. Weiss Ratings lowered TeraWulf from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Wells Fargo & Company started coverage on shares of TeraWulf in a report on Thursday, September 17th. They issued an "overweight" rating and a $30.00 price target 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 price target for the company. Zacks Research lowered shares of TeraWulf from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 13th. Finally, B. Riley Financial raised their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, TeraWulf presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.52.

TeraWulf Trading Up 5.8%

Shares of TeraWulf stock opened at $11.98 on Tuesday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -2.74 and a beta of 3.80. TeraWulf Inc. has a 12-month low of $10.35 and a 12-month high of $29.84. The company's 50-day moving average price is $14.97 and its 200-day moving average price is $18.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. TeraWulf's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts expect that TeraWulf Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction on Thursday, August 27th. The shares were 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 of the company's stock, valued at $64,956,837.12. This represents a 3.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 6,085 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares of the company's stock, valued at $5,188,169.31. This trade represents a 1.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 11,968 shares of company stock worth $189,962 in the last 90 days. 15.90% of the stock is owned by company insiders.

TeraWulf Profile

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.