Johnson Investment Counsel Inc. Invests $110,000 in TeraWulf Inc. $WULF

Key Points

• Johnson Investment Counsel Inc. has invested $110,000 in TeraWulf Inc., acquiring 25,000 shares during the second quarter.
• Several other institutional investors, including Vanguard Group Inc. and Hodges Capital Management Inc., have increased their stakes in TeraWulf, with institutional ownership now at 62.49%.
• TeraWulf reported a quarterly revenue of $47.64 million, surpassing estimates, but missed earnings per share expectations, resulting in a negative net margin of 91.42%.

Johnson Investment Counsel Inc. acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the company's stock, valued at approximately $110,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of TeraWulf by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock valued at $65,193,000 after purchasing an additional 534,315 shares during the period. Hodges Capital Management Inc. boosted 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 worth $9,745,000 after buying an additional 3,549,479 shares during the last quarter. Millennium Management LLC grew its position in TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock valued at $6,705,000 after buying an additional 793,832 shares during the period. Vident Advisory LLC increased its holdings in TeraWulf by 15.5% during the first quarter. Vident Advisory LLC now owns 2,366,242 shares of the company's stock valued at $6,460,000 after buying an additional 318,166 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in TeraWulf by 13.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,613,634 shares of the company's stock worth $4,405,000 after acquiring an additional 186,541 shares during the period. Institutional investors own 62.49% of the company's stock.

Insider Buying and Selling at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the firm's stock in a transaction 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 directly owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WULF shares. Northland Securities boosted their price objective on shares of TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. B. Riley upped their price target on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Cantor Fitzgerald raised their price objective on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Compass Point started coverage on TeraWulf in a research note on Monday, September 15th. They set a "buy" rating for the company. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of TeraWulf in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.11.

TeraWulf Trading Down 10.4%

Shares of WULF stock opened at $13.86 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of -39.60 and a beta of 3.44. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $16.19. The stock's 50-day moving average price is $10.39 and its 200-day moving average price is $6.12.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. During the same period in the previous year, the company posted ($0.03) earnings per share. TeraWulf's quarterly revenue was up 33.9% on a year-over-year basis. Equities research analysts predict that TeraWulf Inc. will post -0.17 EPS 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.

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