Public Employees Retirement System of Ohio Makes New $2.54 Million Investment in TeraWulf Inc. $WULF

Key Points

• Public Employees Retirement System of Ohio acquired 103,048 TeraWulf shares worth approximately $2.54 million in the second quarter. Institutional investors collectively own 62.49% of the company.
• TeraWulf reported a significant quarterly loss of $1.94 per share, missing the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $34.21, despite recent insider selling and the stock opening at $16.51.

Public Employees Retirement System of Ohio bought a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,048 shares of the company's stock, valued at approximately $2,545,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $577,805,000. Voloridge Investment Management LLC bought a new position in shares of TeraWulf during the 3rd quarter worth approximately $69,006,000. Bank of America Corp DE acquired a new stake in TeraWulf in the 2nd quarter valued at $140,057,000. Wellington Management Group LLP raised its stake in TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company's stock worth $44,559,000 after acquiring an additional 3,891,127 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in TeraWulf during the first quarter worth about $53,418,000. Institutional investors own 62.49% of the company's stock.

Insider Buying and Selling at TeraWulf

In other news, Director Michael Bucella bought 2,860 shares of the stock in a transaction dated Monday, August 17th. The shares were bought at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter Carter sold 130,626 shares of TeraWulf stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares of the company's stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 405,626 shares of company stock valued at $7,980,928 in the last quarter. 15.90% of the stock is currently owned by insiders.

TeraWulf Stock Performance

WULF opened at $16.51 on Friday. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of -3.78 and a beta of 3.70. The business's 50-day moving average price is $18.34 and its two-hundred day moving average price is $19.67. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf Inc. has a 1 year low of $8.70 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm's quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts expect that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Needham & Company LLC increased their price target on TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $30.00 price objective on shares of TeraWulf in a research report on Friday, August 21st. Citigroup assumed coverage on TeraWulf in a research note on Monday, June 29th. They issued a "buy" rating and a $36.00 price objective on the stock. Bank of America assumed coverage on TeraWulf in a report on Monday, June 15th. They set a "buy" rating and a $34.00 target price on the stock. Finally, Morgan Stanley lowered their target price on TeraWulf from $72.00 to $62.50 and set an "overweight" rating for the company in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TeraWulf has an average rating of "Moderate Buy" and a consensus target price of $34.21.

About TeraWulf

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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