Harvest Portfolios Group Inc. Decreases Stock Position in TeraWulf Inc. $WULF

Key Points

• Harvest Portfolios Group reduced its TeraWulf stake by 26.7% in the fourth quarter, selling 74,645 shares and ending with 204,533 shares valued at about $2.35 million.
• TeraWulf reported weaker-than-expected quarterly results, posting an EPS loss of $1.01 versus estimates for a $0.19 loss, while revenue came in slightly below forecasts at $34.01 million.
• Analyst sentiment remains mostly positive: several firms raised price targets, and the stock has a consensus rating of “Moderate Buy” with an average target of $27.59.

Harvest Portfolios Group Inc. cut its position in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,533 shares of the company's stock after selling 74,645 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in TeraWulf were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kraematon Investment Advisors Inc. boosted its stake in TeraWulf by 2.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company's stock valued at $488,000 after acquiring an additional 952 shares during the last quarter. R Squared Ltd boosted its stake in TeraWulf by 5.0% during the 4th quarter. R Squared Ltd now owns 22,207 shares of the company's stock valued at $255,000 after acquiring an additional 1,056 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in TeraWulf by 10.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company's stock valued at $152,000 after acquiring an additional 1,293 shares during the last quarter. Xponance Inc. boosted its stake in TeraWulf by 7.3% during the 3rd quarter. Xponance Inc. now owns 22,215 shares of the company's stock valued at $254,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in TeraWulf by 5.2% during the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company's stock valued at $164,000 after acquiring an additional 1,869 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Trading Up 1.4%

TeraWulf stock opened at $21.63 on Thursday. The firm's 50-day moving average is $18.78 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $25.76. The company has a market cap of $10.72 billion, a P/E ratio of -8.72 and a beta of 3.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. The company's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that TeraWulf Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Michael C. Bucella purchased 3,171 shares of TeraWulf stock in a transaction dated Wednesday, March 4th. The shares were bought at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the transaction, the director owned 270,129 shares in the company, valued at $4,262,635.62. This represents a 1.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $20.80, for a total transaction of $2,860,000.00. Following the completion of the transaction, the chief executive officer owned 963,520 shares in the company, valued at approximately $20,041,216. The trade was a 12.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of TeraWulf from $20.00 to $25.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Morgan Stanley increased their price objective on shares of TeraWulf to $42.00 and gave the company an "overweight" rating in a research note on Tuesday. Rosenblatt Securities reiterated a "buy" rating and set a $27.00 price objective on shares of TeraWulf in a research note on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TeraWulf in a research note on Friday, March 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, TeraWulf presently has a consensus rating of "Moderate Buy" and an average price target of $27.59.

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.

Want to see what other hedge funds are holding WULF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TeraWulf Inc. (NASDAQ:WULF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.