Deutsche Bank AG Takes $8.01 Million Position in TeraWulf Inc. $WULF

Key Points

• Deutsche Bank acquired 324,328 TeraWulf shares in the second quarter, valued at approximately $8.01 million. Institutional investors and hedge funds collectively own 62.49% of the company.
• TeraWulf reported a quarterly loss of $1.94 per share, substantially missing the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• Despite the weak results and shares opening at $15.64, analysts maintain a “Moderate Buy” consensus with an average price target of $34.21, while insider activity included a $50,000 director purchase and a larger CEO sale under a pre-arranged trading plan.

Deutsche Bank AG acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 324,328 shares of the company's stock, valued at approximately $8,011,000. Deutsche Bank AG owned 0.07% of TeraWulf as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of TeraWulf by 37.4% in the 4th 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 during the period. Engle Capital Management L.P. grew its stake in TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. grew its stake in TeraWulf by 45.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company's stock worth $1,610,000 after purchasing an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its stake in TeraWulf by 178.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company's stock worth $1,735,000 after purchasing an additional 96,843 shares during the period. Finally, Jennison Associates LLC bought a new stake in TeraWulf in the first quarter worth approximately $53,418,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Price Performance

WULF stock opened at $15.64 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock's 50 day moving average is $20.76 and its 200-day moving average is $19.67. TeraWulf Inc. has a twelve month low of $8.60 and a twelve month high of $29.84. The firm has a market capitalization of $7.80 billion, a PE ratio of -3.58 and a beta of 3.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm had revenue of $44.77 million for the quarter, compared to analysts' expectations of $46.00 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. TeraWulf's revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In related news, Director Michael C. Bucella purchased 3,023 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $16.54 per share, with a total value of $50,000.42. Following the acquisition, the director owned 341,844 shares of the company's stock, valued at $5,654,099.76. This represents a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WULF. Bank of America initiated coverage on TeraWulf in a research note on Monday, June 15th. They issued a "buy" rating and a $34.00 price target on the stock. Compass Point set a $40.00 target price on shares of TeraWulf in a research report on Monday, July 6th. Citigroup started coverage on shares of TeraWulf in a research note on Monday, June 29th. They set a "buy" rating and a $36.00 target price on the stock. Oppenheimer restated an "outperform" rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Finally, Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $34.21.

About TeraWulf

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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