Marnell Management LLC Invests $6.50 Million in TeraWulf Inc. $WULF

Key Points

• Marnell Management LLC disclosed a new fourth-quarter stake in TeraWulf, buying 565,928 shares worth about $6.5 million. The position now represents about 3.2% of Marnell’s portfolio.
• Insider activity was mixed: CFO Patrick Fleury sold 573,586 shares for about $9.26 million, while Director Michael C. Bucella bought 1,665 shares. Over the last 90 days, insiders have been net sellers of TeraWulf stock.
• TeraWulf reported a wider-than-expected loss in its latest quarter, posting EPS of -$1.01 versus estimates of -$0.19, though revenue was roughly in line at $34.01 million. Analysts still have a generally positive view, with a consensus rating of Moderate Buy and an average target price of $31.72.

Marnell Management LLC bought a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 565,928 shares of the company's stock, valued at approximately $6,503,000. TeraWulf comprises about 3.2% of Marnell Management LLC's portfolio, making the stock its 4th largest position. Marnell Management LLC owned approximately 0.14% of TeraWulf as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WULF. Advisory Services Network LLC purchased a new stake in shares of TeraWulf in the third quarter worth $29,000. Vermillion Wealth Management Inc. grew its stake in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after acquiring an additional 2,394 shares during the last quarter. Solstein Capital LLC purchased a new stake in shares of TeraWulf in the fourth quarter worth $34,000. Comerica Bank grew its stake in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after acquiring an additional 12,370 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of TeraWulf in the fourth quarter worth $46,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $9,257,678.04. Following the transaction, the chief financial officer owned 3,205,000 shares of the company's stock, valued at approximately $51,728,700. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Bucella bought 1,665 shares of the stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the acquisition, the director owned 280,052 shares of the company's stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. 15.90% of the stock is owned by corporate insiders.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $26.06 on Monday. The company has a market cap of $12.91 billion, a P/E ratio of -10.51 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $27.78. The stock's fifty day moving average price is $22.12 and its 200-day moving average price is $17.13.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. Sell-side analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WULF. Oppenheimer reissued an "outperform" rating and issued a $35.00 target price on shares of TeraWulf in a research note on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of TeraWulf in a research note on Friday, March 27th. B. Riley Financial increased their target price on TeraWulf from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Jefferies Financial Group began coverage on TeraWulf in a report on Thursday, May 14th. They set a "buy" rating and a $28.00 price target on the stock. Finally, Citigroup reaffirmed a "market outperform" rating on shares of TeraWulf in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.72.

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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