Sona Asset Management US LLC Has $7.66 Million Stock Position in TeraWulf Inc. $WULF

Key Points

• Sona Asset Management increased its TeraWulf stake by 324.8% in the first quarter, acquiring 406,000 additional shares to hold 531,000 shares valued at approximately $7.66 million. Institutional investors collectively own 62.49% of the company.
• TeraWulf reported a quarterly loss of $1.01 per share, substantially below the $0.19 consensus estimate, while revenue reached $34.01 million and declined 1.1% year over year.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $34.46 versus the stock’s reported $18.46 price; however, CEO Paul Prager recently sold 137,500 shares for about $3.66 million under a pre-arranged trading plan.

Sona Asset Management US LLC grew its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 324.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 531,000 shares of the company's stock after acquiring an additional 406,000 shares during the period. Sona Asset Management US LLC owned about 0.11% of TeraWulf worth $7,662,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in TeraWulf in the third quarter valued at $29,000. Vermillion Wealth Management Inc. increased its stake in shares of TeraWulf by 1,191.0% in the fourth 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 stake in shares of TeraWulf in the fourth quarter valued at about $34,000. Comerica Bank raised its position in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after acquiring an additional 12,370 shares during the last quarter. Finally, First United Bank & Trust bought a new position in shares of TeraWulf during the first quarter worth about $37,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $18.46 on Monday. The stock's 50-day moving average is $23.76 and its 200 day moving average is $19.20. TeraWulf Inc. has a one year low of $4.64 and a one year high of $29.84. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of -7.44 and a beta of 3.73. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results 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). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that TeraWulf Inc. will post -1.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup initiated coverage on TeraWulf in a report on Monday, June 29th. They issued a "buy" rating and a $36.00 target price on the stock. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Needham & Company LLC boosted their price target on shares of TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein initiated coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price objective on the stock. Finally, Compass Point set a $40.00 price objective on shares of TeraWulf in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.46.

Insider Activity at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares in the company, valued at $104,938,383.20. The trade was a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 383,350 shares of company stock worth $9,361,864. Company insiders own 15.90% of the company's stock.

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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