Exchange Traded Concepts LLC Sells 480,711 Shares of TeraWulf Inc. $WULF

Key Points

• Exchange Traded Concepts LLC has decreased its stake in TeraWulf Inc. by 28.9%, selling 480,711 shares, and now holds approximately 1,182,825 shares valued at $5,181,000.
• Despite the sell-off by Exchange Traded Concepts, other institutional investors like Apollon Wealth Management and Florida Financial Advisors have increased their holdings, indicating a mixed sentiment toward TeraWulf.
• TeraWulf reported negative earnings per share of ($0.05), missing estimates, although revenue grew by 33.9% year-over-year to $47.64 million during the last quarter.

Exchange Traded Concepts LLC trimmed its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182,825 shares of the company's stock after selling 480,711 shares during the period. Exchange Traded Concepts LLC owned approximately 0.31% of TeraWulf worth $5,181,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WULF. Wealth Enhancement Advisory Services LLC lifted its position in TeraWulf by 7.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 729,734 shares of the company's stock valued at $3,196,000 after acquiring an additional 48,573 shares in the last quarter. NBC Securities Inc. raised its position in TeraWulf by 77.3% in the 2nd quarter. NBC Securities Inc. now owns 198,390 shares of the company's stock valued at $868,000 after buying an additional 86,500 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of TeraWulf by 17,747.4% in the first quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock valued at $9,745,000 after purchasing an additional 3,549,479 shares during the last quarter. Rhumbline Advisers boosted its holdings in TeraWulf by 5.5% during the first quarter. Rhumbline Advisers now owns 366,217 shares of the company's stock worth $1,000,000 after purchasing an additional 19,216 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in TeraWulf in the first quarter valued at approximately $33,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Northland Securities boosted their target price on TeraWulf from $12.00 to $15.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Roth Capital raised their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a research report on Friday, August 15th. Wall Street Zen downgraded TeraWulf from a "hold" rating to a "sell" rating in a research report on Sunday, August 24th. B. Riley lifted their price target on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Rosenblatt Securities upped their price objective on TeraWulf from $10.50 to $12.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $11.22.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the business's stock in a transaction dated Friday, August 15th. The stock was 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 of the company's stock, valued at approximately $352,244.16. The trade was 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 the SEC website. 19.90% of the stock is currently owned by corporate insiders.

TeraWulf Price Performance

Shares of NASDAQ WULF traded up $0.03 during mid-day trading on Tuesday, reaching $11.52. The company had a trading volume of 11,572,966 shares, compared to its average volume of 45,351,637. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -32.93 and a beta of 3.36. The business's 50-day simple moving average is $7.73 and its 200 day simple moving average is $4.98. TeraWulf Inc. has a one year low of $2.06 and a one year high of $11.79. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. TeraWulf's quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. On average, research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

About TeraWulf

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.