Nicholas Investment Partners LP Purchases Shares of 76,432 TeraWulf Inc. $WULF

Key Points

• Nicholas Investment Partners initiated a position in TeraWulf by purchasing 76,432 shares valued at approximately $1.89 million. Institutional investors collectively own 62.49% of WULF.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $34.21, despite targets ranging from $30 to $46.
• TeraWulf reported a significant quarterly loss, posting EPS of negative $1.94 versus estimates of negative $0.24, while revenue fell 6% year over year to $44.77 million. Shares opened at $15.48, well below the 52-week high of $29.84.

Nicholas Investment Partners LP purchased a new position in TeraWulf Inc. (NASDAQ:WULF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 76,432 shares of the company's stock, valued at approximately $1,888,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WULF. Advisory Services Network LLC acquired a new position in TeraWulf during the 3rd quarter valued at about $29,000. Vermillion Wealth Management Inc. boosted its position in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC acquired a new stake in TeraWulf during the 4th quarter worth $34,000. Comerica Bank raised its stake in TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after buying an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC lifted its holdings in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock worth $36,000 after acquiring an additional 747 shares in the last quarter. Institutional investors own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WULF. Rosenblatt Securities reiterated a "buy" rating and issued a $30.00 price objective on shares of TeraWulf in a research report on Friday. Chardan Capital restated a "buy" rating and set a $32.00 target price on shares of TeraWulf in a report on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Finally, B. Riley Financial upped their price objective on TeraWulf from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.

TeraWulf Stock Down 1.0%

Shares of WULF stock opened at $15.48 on Tuesday. TeraWulf Inc. has a 52-week low of $8.60 and a 52-week high of $29.84. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -3.54 and a beta of 3.76. The firm's 50-day moving average is $20.50 and its 200-day moving average is $19.67. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. Sell-side analysts predict that TeraWulf Inc. will post -0.94 EPS for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella bought 2,860 shares of TeraWulf stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the purchase, the director owned 344,704 shares of the company's stock, valued at $6,021,978.88. The trade was a 0.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the transaction, the chief executive officer owned 3,945,052 shares of the company's stock, valued at $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company's stock.

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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