Nicholas Investment Partners LP Purchases Shares of 217,667 TeraWulf Inc. $WULF

Key Points

• Nicholas Investment Partners LP disclosed a new stake in TeraWulf, buying 217,667 shares worth about $2.5 million in the fourth quarter. The position represents roughly 0.05% of the company.
• TeraWulf continues to attract institutional interest, with several other funds recently adding or starting positions, and institutions now owning about 62.49% of the stock.
• The company’s latest earnings were weak: TeraWulf reported a loss of $1.01 per share, missing estimates, while analysts still maintain a Moderate Buy view with a consensus price target of $31.72.

Nicholas Investment Partners LP purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 217,667 shares of the company's stock, valued at approximately $2,501,000. Nicholas Investment Partners LP owned about 0.05% of TeraWulf as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of WULF. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at about $29,000. Vermillion Wealth Management Inc. lifted its holdings in shares of TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock valued at $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at about $34,000. Comerica Bank lifted its holdings in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after buying an additional 12,370 shares during the period. Finally, Activest Wealth Management acquired a new position in shares of TeraWulf in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Stock Performance

NASDAQ WULF opened at $26.06 on Friday. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of -10.51 and a beta of 3.82. TeraWulf Inc. has a twelve month low of $3.39 and a twelve month high of $27.78. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a 50-day moving average of $22.12 and a 200 day moving average of $17.10.

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

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their price target on TeraWulf from $25.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TeraWulf in a report on Friday, March 27th. Arete Research initiated coverage on TeraWulf in a report on Monday, March 23rd. They issued a "buy" rating and a $30.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.72.

Insiders Place Their Bets

In other TeraWulf news, CFO Patrick Fleury sold 26,414 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer owned 4,249,202 shares of the company's stock, valued at approximately $103,808,004.86. This trade 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 bought 6,500 shares of company stock worth $100,333 and sold 1,120,850 shares worth $20,462,114. 15.90% of the stock is owned by company insiders.

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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