Lazard Asset Management LLC Has $2 Million Position in TeraWulf Inc. $WULF

Key Points

• Lazard Asset Management cut its TeraWulf stake by 58.6% in the first quarter, selling 196,437 shares and retaining 138,750 shares valued at approximately $2.0 million. Institutional investors and hedge funds collectively own 62.49% of WULF.
• Wall Street remains broadly bullish, with TeraWulf receiving a consensus “Moderate Buy” rating and an average price target of $34.29. Recent targets range from $30 to $72 per share.
• TeraWulf reported a significant quarterly loss, posting adjusted earnings of negative $1.01 per share versus estimates of negative $0.19, while revenue fell 1.1% year over year to $34.01 million.

Lazard Asset Management LLC cut its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,750 shares of the company's stock after selling 196,437 shares during the quarter. Lazard Asset Management LLC's holdings in TeraWulf were worth $2,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Kraematon Investment Advisors Inc. grew its stake in TeraWulf by 2.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company's stock valued at $488,000 after buying an additional 952 shares during the last quarter. R Squared Ltd raised its holdings in TeraWulf by 5.0% in 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 period. Franklin Resources Inc. lifted its position in TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company's stock worth $724,000 after acquiring an additional 1,259 shares during the last quarter. IFP Advisors Inc lifted its position in TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company's stock worth $142,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Xponance LLC boosted its holdings in shares of TeraWulf by 7.7% during the fourth quarter. Xponance LLC now owns 23,928 shares of the company's stock worth $275,000 after acquiring an additional 1,713 shares during the period. Institutional investors and hedge funds own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

WULF has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $37.00 target price on shares of TeraWulf in a research note on Wednesday, July 15th. Oppenheimer restated an "outperform" rating and issued a $35.00 price target on shares of TeraWulf in a research note on Wednesday, May 27th. Needham & Company LLC upped their price objective on TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lowered their price objective on TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. Finally, Morgan Stanley increased their price objective on TeraWulf from $66.50 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.29.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company's stock, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by corporate insiders.

TeraWulf Price Performance

Shares of WULF opened at $17.66 on Monday. TeraWulf Inc. has a 12 month low of $4.64 and a 12 month high of $29.84. The firm's 50 day moving average is $23.27 and its 200-day moving average is $19.34. The stock has a market capitalization of $8.75 billion, a PE ratio of -7.12 and a beta of 3.76. 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 quarterly 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 analyst estimates 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts forecast that TeraWulf Inc. will post -1.06 EPS for the current year.

TeraWulf Company 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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