Legal & General Group Plc Takes $7.62 Million Position in TeraWulf Inc. $WULF

Key Points

• Legal & General Group Plc acquired 308,522 TeraWulf shares worth approximately $7.62 million, while institutional investors collectively own 62.49% of the company.
• TeraWulf reported a weak quarter, with a $1.94 loss per share versus the $0.24 consensus estimate and revenue of $44.77 million, down 6% year over year.
• Analysts remain broadly positive, assigning the stock a “Moderate Buy” consensus rating and an average price target of $34.21, despite recent insider selling and shares opening at $14.82.

Legal & General Group Plc purchased a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 308,522 shares of the company's stock, valued at approximately $7,620,000. Legal & General Group Plc owned approximately 0.06% of TeraWulf as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in TeraWulf during the second quarter worth approximately $3,534,000. Algert Global LLC increased its position in shares of TeraWulf by 179.1% in the second quarter. Algert Global LLC now owns 808,637 shares of the company's stock valued at $19,973,000 after buying an additional 518,903 shares in the last quarter. Gallo Partners LP acquired a new position in shares of TeraWulf during the 2nd quarter worth approximately $283,000. Ranger Investment Management L.P. purchased a new position in shares of TeraWulf during the 2nd quarter valued at approximately $20,712,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of TeraWulf during the 2nd quarter valued at approximately $546,000. Institutional investors and hedge funds own 62.49% of the company's stock.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Michael C. Bucella purchased 3,023 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the transaction, the director owned 341,844 shares of the company's stock, valued at $5,654,099.76. The trade was a 0.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walter E. Carter sold 130,626 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares of the company's stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 405,626 shares of company stock valued at $7,980,928. Corporate insiders own 15.90% of the company's stock.

TeraWulf Stock Up 1.2%

Shares of WULF opened at $14.82 on Thursday. The stock has a 50 day moving average price of $18.72 and a 200 day moving average price of $19.70. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -3.39 and a beta of 3.71.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WULF. Keefe, Bruyette & Woods dropped their price target on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. HC Wainwright reaffirmed a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. Compass Point set a $40.00 price objective on shares of TeraWulf in a report on Monday, July 6th. Sanford C. Bernstein initiated coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 target price on the stock. Finally, Citigroup began coverage on shares of TeraWulf in a research note on Monday, June 29th. They set a "buy" rating and a $36.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.21.

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.

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