MYDA Advisors LLC Sells 110,000 Shares of TeraWulf Inc. $WULF

Key Points

• MYDA Advisors LLC cut its TeraWulf stake by 22.4% in the fourth quarter, selling 110,000 shares and leaving it with 380,000 shares worth about $4.37 million.
• TeraWulf has seen significant institutional activity overall, with investors like Vanguard, Wellington, and Marshall Wace increasing positions; institutional investors own 62.49% of the stock.
• The company reported weaker-than-expected quarterly results, posting an EPS loss of $1.01 versus estimates for a $0.19 loss, while analysts still rate the stock Moderate Buy with an average price target of $31.72.

MYDA Advisors LLC reduced its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 380,000 shares of the company's stock after selling 110,000 shares during the quarter. TeraWulf accounts for approximately 0.8% of MYDA Advisors LLC's holdings, making the stock its 28th biggest position. MYDA Advisors LLC owned about 0.09% of TeraWulf worth $4,366,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WULF. Vanguard Group Inc. grew its stake in shares of TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at about $69,006,000. Wellington Management Group LLP grew its stake in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company's stock valued at $44,559,000 after purchasing an additional 3,891,127 shares during the period. Marshall Wace LLP grew its stake in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company's stock valued at $36,609,000 after purchasing an additional 2,713,587 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the period. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $26.06 on Monday. The stock has a 50 day moving average of $22.12 and a 200 day moving average of $17.13. The company has a market cap of $12.91 billion, a PE ratio of -10.51 and a beta of 3.82. 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 Inc. has a 12-month low of $3.39 and a 12-month high of $27.78.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data 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 company 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 was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) earnings per share. As a group, equities research analysts expect that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella purchased 1,665 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $15.04 per share, with a total value of $25,041.60. Following the acquisition, the director owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul B. Prager sold 166,650 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have acquired 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 insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WULF shares. Roth Mkm restated a "buy" rating and set a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Sanford C. Bernstein initiated coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $46.00 price objective for the company. Needham & Company LLC boosted their price objective on TeraWulf from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Cantor Fitzgerald boosted their price objective on TeraWulf from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group initiated coverage on TeraWulf in a research note on Thursday, May 14th. They set a "buy" rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of "Moderate Buy" and an average price target of $31.72.

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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