Jupiter Topco LLC Invests $4.21 Million in TeraWulf Inc. $WULF

Key Points

• Jupiter Topco LLC acquired 170,532 TeraWulf shares in the second quarter, valued at approximately $4.21 million. Institutional investors collectively own 62.49% of the company.
• TeraWulf insiders sold 405,626 shares worth nearly $8.0 million over the past 90 days, including sales by the CEO and a director under disclosed transactions.
• The stock opened at $14.65, down 3.2%, after TeraWulf reported a larger-than-expected quarterly loss of $1.94 per share and revenue of $44.77 million. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $34.21.

Jupiter Topco LLC acquired a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 170,532 shares of the company's stock, valued at approximately $4,210,000.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its holdings in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC grew its stake in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock valued at $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. increased its position in shares of TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock valued at $181,000 after purchasing an additional 2,258 shares during the last quarter. Creative Planning increased 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 purchasing an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of TeraWulf by 10.6% in the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after purchasing an additional 5,432 shares during the period. Hedge funds and other institutional investors own 62.49% of the company's stock.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Walter E. Carter sold 130,626 shares of TeraWulf stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director owned 229,090 shares of the company's stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer owned 3,807,552 shares of the company's stock, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 405,626 shares of company stock valued at $7,980,928 over the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

TeraWulf Stock Down 3.2%

NASDAQ WULF opened at $14.65 on Wednesday. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The company has a market capitalization of $7.31 billion, a P/E ratio of -3.35 and a beta of 3.71. The stock's 50-day moving average price is $18.96 and its 200-day moving average price is $19.70.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company's revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, equities research analysts predict that TeraWulf Inc. will post -0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. B. Riley Financial raised their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TeraWulf in a report on Wednesday, June 24th. Chardan Capital reiterated a "buy" rating and issued a $32.00 price target on shares of TeraWulf in a research report on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $46.00 price target on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.21.

About TeraWulf

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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