Senator Investment Group LP Buys Shares of 85,000 TeraWulf Inc. $WULF

Key Points

• Senator Investment Group LP disclosed a new fourth-quarter stake in TeraWulf, buying 85,000 shares worth about $977,000.
• TeraWulf shares rose 8.1% to open at $28.17, near its 52-week high of $28.45, as institutional ownership remained high at 62.49%.
• The company reported a wider-than-expected quarterly loss of $1.01 per share on revenue of $34.01 million, while analysts still maintain a generally positive view with a consensus rating of Moderate Buy and a target price of $31.86.

Senator Investment Group LP bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 85,000 shares of the company's stock, valued at approximately $977,000.

Several other hedge funds have also bought and sold shares of the stock. Kraematon Investment Advisors Inc. lifted its position in TeraWulf by 2.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company's stock valued at $488,000 after purchasing an additional 952 shares during the last quarter. R Squared Ltd lifted its position in TeraWulf by 5.0% during the fourth quarter. R Squared Ltd now owns 22,207 shares of the company's stock valued at $255,000 after purchasing an additional 1,056 shares during the last quarter. Franklin Resources Inc. lifted its position in TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company's stock valued at $724,000 after purchasing an additional 1,259 shares during the last quarter. Rafferty Asset Management LLC lifted its position in TeraWulf by 10.7% during the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company's stock valued at $152,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Xponance Inc. lifted its position in TeraWulf by 7.3% during the third quarter. Xponance Inc. now owns 22,215 shares of the company's stock valued at $254,000 after purchasing an additional 1,503 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Trading Up 8.1%

Shares of WULF opened at $28.17 on Tuesday. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of -11.36 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $28.45. The firm has a 50 day moving average price of $22.39 and a 200-day moving average price of $17.23.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella acquired 1,665 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the acquisition, the director owned 280,052 shares in the company, valued at $4,211,982.08. The trade was a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at 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 transaction of $4,071,259.50. Following the completion of the sale, the chief executive officer owned 4,249,202 shares of the company's stock, valued at approximately $103,808,004.86. The trade was a 3.77% 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. Over the last 90 days, insiders bought 4,916 shares of company stock valued at $74,989 and sold 520,850 shares valued at $10,778,114. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WULF shares. Northland Securities set a $30.00 target price on shares of TeraWulf in a research report on Monday, May 4th. Citigroup reiterated a "market outperform" rating on shares of TeraWulf in a research report on Thursday, June 4th. Sanford C. Bernstein started coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $46.00 target price for the company. Lucid Cap Mkts upgraded shares of TeraWulf to a "strong-buy" rating in a research report on Wednesday, May 27th. Finally, Oppenheimer restated an "outperform" rating and issued a $35.00 price objective on shares of TeraWulf in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.86.

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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