Dockside LLC Buys New Stake in TeraWulf Inc. $WULF

Key Points

• Dockside LLC purchased 57,774 TeraWulf shares during the second quarter, valued at approximately $1.43 million. Institutional investors collectively own 62.49% of the company.
• TeraWulf reported a quarterly loss of $1.94 per share, far worse than the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• Despite weak earnings, analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.21, compared with the stock’s reported opening price of $17.38.

Dockside LLC purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 57,774 shares of the company's stock, valued at approximately $1,427,000.

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

TeraWulf Price Performance

WULF stock opened at $17.38 on Friday. The stock's 50 day moving average price is $21.66 and its 200 day moving average price is $19.56. The firm has a market cap of $8.67 billion, a P/E ratio of -3.98 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a quick ratio of 1.20 and a current ratio of 0.75. TeraWulf Inc. has a 1 year low of $8.14 and a 1 year high of $29.84.

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 return on equity of 458.62% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million for the quarter, compared to analysts' expectations of $46.00 million. During the same period in the previous year, the business posted ($0.05) EPS. The business's quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts expect that TeraWulf Inc. will post -1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on WULF shares. B. Riley Financial lifted their price target on TeraWulf from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Jefferies Financial Group assumed coverage on TeraWulf in a research note on Thursday, May 14th. They issued a "buy" rating and a $28.00 target price on the stock. Chardan Capital restated a "buy" rating and set a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TeraWulf in a research report on Wednesday, June 24th. Finally, Rosenblatt Securities restated a "buy" rating and set a $30.00 price objective on shares of TeraWulf in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.21.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares of the company's stock, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company's stock.

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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