NBC Securities Inc. Boosts Position in TeraWulf Inc. $WULF

Key Points

• NBC Securities Inc. increased its stake in TeraWulf Inc. by 77.3% in Q2, acquiring 86,500 shares, bringing its total to 198,390 shares valued at $868,000.
• Institutional investors collectively own 62.49% of TeraWulf, with various funds making significant increases in their positions during the fourth quarter.
• TeraWulf's stock price recently hit $10.94, with a reported negative net margin of 91.42% and analysts projecting a consensus target price of $11.22.

NBC Securities Inc. increased its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 77.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,390 shares of the company's stock after buying an additional 86,500 shares during the period. NBC Securities Inc. owned about 0.05% of TeraWulf worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. lifted its holdings in TeraWulf by 17,747.4% in the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock valued at $9,745,000 after purchasing an additional 3,549,479 shares in the last quarter. Rhumbline Advisers lifted its holdings in TeraWulf by 5.5% in the 1st quarter. Rhumbline Advisers now owns 366,217 shares of the company's stock valued at $1,000,000 after purchasing an additional 19,216 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in TeraWulf in the 1st quarter valued at $33,000. First Dallas Securities Inc. purchased a new position in TeraWulf in the 1st quarter valued at $160,000. Finally, Two Seas Capital LP purchased a new position in TeraWulf in the 1st quarter valued at $585,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

TeraWulf Stock Down 1.7%

Shares of WULF traded down $0.19 during midday trading on Friday, hitting $10.98. The company had a trading volume of 52,500,336 shares, compared to its average volume of 38,595,548. The company's 50-day simple moving average is $7.60 and its 200-day simple moving average is $4.92. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $4.48 billion, a P/E ratio of -31.37 and a beta of 3.36. TeraWulf Inc. has a 1 year low of $2.06 and a 1 year high of $11.63.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $47.64 million during the quarter, compared to analysts' expectations of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The business's quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WULF. B. Riley raised their price objective on TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, August 18th. Roth Capital raised their price objective on TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a report on Friday, August 15th. Rosenblatt Securities raised their target price on TeraWulf from $10.50 to $12.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Cantor Fitzgerald raised their target price on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, JMP Securities raised their target price on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.22.

Insider Activity

In other news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the transaction, the director owned 40,769 shares in the company, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.90% of the company's stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.