First Dallas Securities Inc. Has $2.07 Million Stock Holdings in TeraWulf Inc. $WULF

Key Points

• First Dallas Securities reduced its TeraWulf stake by 31.8% in the fourth quarter, selling 84,000 shares and leaving it with 180,000 shares worth about $2.07 million.
• Insider activity was mixed but leaned toward selling: CFO Patrick Fleury sold 573,586 shares in March, while Director Michael C. Bucella bought 1,665 shares. Over the past 90 days, insiders sold far more stock than they bought.
• Analysts remain broadly positive on TeraWulf, with a Moderate Buy consensus and average price target of $31.72, even after the company reported a quarterly loss that missed expectations and revenue that came in slightly below estimates.

First Dallas Securities Inc. cut its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,000 shares of the company's stock after selling 84,000 shares during the period. First Dallas Securities Inc.'s holdings in TeraWulf were worth $2,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth $29,000. Vermillion Wealth Management Inc. raised its holdings in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after acquiring an additional 2,394 shares during the period. Comerica Bank raised 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 acquiring an additional 12,370 shares during the period. Activest Wealth Management acquired a new stake in shares of TeraWulf during the fourth quarter worth $46,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of TeraWulf during the second quarter worth $53,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TeraWulf

In related news, CFO Patrick Fleury sold 573,586 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares of the company's stock, valued at approximately $51,728,700. This trade represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael C. Bucella bought 1,665 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director owned 280,052 shares of the company's stock, valued at $4,211,982.08. This represents a 0.60% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 6,500 shares of company stock valued at $100,333 and sold 1,120,850 shares valued at $20,462,114. 15.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WULF shares. Keefe, Bruyette & Woods raised their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Lucid Cap Mkts upgraded shares of TeraWulf to a "strong-buy" rating in a report on Wednesday, May 27th. Cantor Fitzgerald raised their price objective on shares of TeraWulf from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Rosenblatt Securities restated a "buy" rating and set a $27.00 price objective on shares of TeraWulf in a report on Monday, May 11th. Finally, Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.72.

TeraWulf Stock Down 2.2%

TeraWulf stock opened at $25.30 on Wednesday. The company has a market cap of $12.54 billion, a P/E ratio of -10.20 and a beta of 3.82. TeraWulf Inc. has a 1-year low of $3.39 and a 1-year high of $27.78. The company has a fifty day simple moving average of $21.48 and a 200 day simple moving average of $16.86. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS. Research analysts anticipate that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

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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