Feynman Point Asset Management LLC Sells 110,800 Shares of TeraWulf Inc. $WULF

Key Points

• Feynman Point Asset Management cut its TeraWulf stake by 66% in the first quarter, selling 110,800 shares and retaining 57,161 shares worth approximately $825,000.
• Institutional ownership stands at 62.49%, while analyst sentiment remains favorable: TeraWulf has a consensus “Moderate Buy” rating and an average price target of $34.29.
• TeraWulf shares opened at $17.09 after declining 4.9%; the company’s latest quarter showed a wider-than-expected loss of $1.01 per share, $34.01 million in revenue, and a 611.46% negative net margin.

Feynman Point Asset Management LLC lowered its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 66.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,161 shares of the company's stock after selling 110,800 shares during the period. TeraWulf makes up about 1.0% of Feynman Point Asset Management LLC's holdings, making the stock its 16th biggest position. Feynman Point Asset Management LLC's holdings in TeraWulf were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Comerica Bank boosted its holdings in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after buying an additional 12,370 shares in the last quarter. Millennium Management LLC increased its stake 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 acquiring an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. increased its stake 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 acquiring an additional 2,258 shares in the last quarter. Creative Planning lifted its position in shares of TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock valued at $209,000 after acquiring an additional 33,317 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock valued at $248,000 after acquiring an additional 5,432 shares during the period. 62.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America initiated coverage on shares of TeraWulf in a report on Monday, June 15th. They issued a "buy" rating and a $34.00 price target for the company. Lucid Cap Mkts raised shares of TeraWulf to a "strong-buy" rating in a research note on Wednesday, May 27th. B. Riley Financial upped their price objective on shares of TeraWulf from $27.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Compass Point set a $40.00 price objective on shares of TeraWulf in a research report on Monday, July 6th. Finally, Chardan Capital began coverage on TeraWulf in a research note on Monday. They issued a "buy" rating and a $32.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, TeraWulf currently has an average rating of "Moderate Buy" and a consensus price target of $34.29.

TeraWulf Stock Down 4.9%

TeraWulf stock opened at $17.09 on Wednesday. TeraWulf Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $29.84. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The firm's 50-day simple moving average is $23.61 and its 200 day simple moving average is $19.27. The stock has a market cap of $8.47 billion, a PE ratio of -6.89 and a beta of 3.73.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm had revenue of $34.01 million during the quarter, compared to analysts' expectations of $34.69 million. During the same quarter last year, the business posted ($0.16) EPS. The company's quarterly revenue was down 1.1% on a year-over-year basis. Research analysts predict that TeraWulf Inc. will post -1.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the sale, the chief executive officer directly owned 4,249,202 shares of the company's stock, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

TeraWulf 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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