Spear Advisors LLC Takes Position in TeraWulf Inc. $WULF

Key Points

• Spear Advisors LLC initiated a new position in TeraWulf, buying 576,598 shares worth about $6.6 million, making WULF its 9th-largest holding and about 4.6% of its portfolio.
• Wall Street sentiment remains constructive: several analysts recently raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $27.55.
• TeraWulf’s latest quarter missed expectations, reporting EPS of -$1.01 versus a -$0.19 estimate, while shares were trading at $22.32 after a recent decline.

Spear Advisors LLC acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 576,598 shares of the company's stock, valued at approximately $6,625,000. TeraWulf accounts for about 4.6% of Spear Advisors LLC's investment portfolio, making the stock its 9th largest position. Spear Advisors LLC owned approximately 0.14% of TeraWulf as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Kraematon Investment Advisors Inc. raised its stake in shares of 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 period. R Squared Ltd raised its stake in shares of 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 period. Franklin Resources Inc. raised its stake in shares of 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 period. Rafferty Asset Management LLC raised its stake in shares of 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 period. Finally, Xponance Inc. raised its stake in shares of 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 period. Hedge funds and other institutional investors own 62.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of TeraWulf from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Arete Research initiated coverage on shares of TeraWulf in a research note on Monday, March 23rd. They set a "buy" rating and a $30.00 price objective on the stock. Morgan Stanley reissued an "overweight" rating and set a $41.50 price target on shares of TeraWulf in a research report on Monday, April 27th. Cantor Fitzgerald raised their price target on shares of TeraWulf from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Finally, Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.55.

TeraWulf Stock Down 7.7%

WULF stock opened at $22.32 on Friday. TeraWulf Inc. has a twelve month low of $3.39 and a twelve month high of $25.76. The company has a current ratio of 1.20, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The company has a market capitalization of $11.06 billion, a P/E ratio of -9.00 and a beta of 3.84. The firm has a 50 day simple moving average of $18.36 and a 200-day simple moving average of $15.55.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly 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 company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same period in the previous year, the business posted ($0.16) EPS. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that TeraWulf Inc. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Monday, April 27th. The shares were sold at an average price of $20.80, for a total value of $2,860,000.00. Following the completion of the transaction, the chief executive officer owned 963,520 shares of the company's stock, valued at $20,041,216. The trade was a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael C. Bucella acquired 3,171 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director owned 270,129 shares of the company's stock, valued at $4,262,635.62. This trade represents a 1.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. 15.90% of the stock is currently owned by corporate insiders.

TeraWulf Company 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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