HighTower Advisors LLC Lowers Stake in TeraWulf Inc. $WULF

Key Points

• HighTower Advisors LLC reduced its stake in TeraWulf Inc. by 42.0%, selling 81,052 shares and leaving it with 111,960 shares valued at approximately $306,000.
• Major institutional investors have increased their positions in TeraWulf, with Vanguard Group Inc. raising its stake by 2.3% during the same quarter.
• TeraWulf's stock is currently trading at $9.63, and despite a recent earnings miss, its revenue grew by 33.9% year-over-year, reaching $47.64 million for the last quarter.

HighTower Advisors LLC reduced its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,960 shares of the company's stock after selling 81,052 shares during the quarter. HighTower Advisors LLC's holdings in TeraWulf were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in TeraWulf by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock valued at $65,193,000 after buying an additional 534,315 shares in the last quarter. Cetera Investment Advisers lifted its stake in TeraWulf by 421.9% in the 4th quarter. Cetera Investment Advisers now owns 100,366 shares of the company's stock valued at $568,000 after buying an additional 81,134 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in TeraWulf by 12.7% in the 4th quarter. Nuveen Asset Management LLC now owns 681,240 shares of the company's stock valued at $3,856,000 after buying an additional 76,840 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in TeraWulf by 171.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 206,840 shares of the company's stock valued at $1,171,000 after buying an additional 130,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in TeraWulf by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 569,275 shares of the company's stock valued at $3,222,000 after buying an additional 95,860 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Up 1.9%

TeraWulf stock opened at $9.63 on Wednesday. TeraWulf Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $10.71. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50 day moving average price of $6.16 and a 200 day moving average price of $4.36. The company has a market capitalization of $3.93 billion, a PE ratio of -27.51 and a beta of 3.36.

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

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the transaction, the director owned 40,769 shares of the company's stock, valued at $352,244.16. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 16.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WULF has been the topic of a number of research reports. Northland Securities raised their price target on shares of TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Cantor Fitzgerald raised their price target on shares of TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. B. Riley raised their price target on shares of TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, August 18th. JMP Securities increased their price objective on shares of TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a report on Friday, August 15th. Finally, Rosenblatt Securities increased their price objective on shares of 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, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $11.22.

TeraWulf Company Profile

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.

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