Steamboat Capital Partners LLC Sells 447,649 Shares of TeraWulf Inc. $WULF

Key Points

• Steamboat Capital Partners cut its TeraWulf stake by 85.8% in the second quarter, selling 447,649 shares and retaining 74,149 shares worth about $1.83 million. Institutional investors collectively own 62.49% of WULF.
• TeraWulf reported a significant quarterly earnings miss, posting a loss of $1.94 per share versus the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• Despite recent insider selling totaling about $7.98 million over 90 days, analysts maintain a generally positive outlook: WULF has a “Moderate Buy” consensus rating and a $34.21 average price target.

Steamboat Capital Partners LLC lowered its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 85.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,149 shares of the company's stock after selling 447,649 shares during the quarter. Steamboat Capital Partners LLC's holdings in TeraWulf were worth $1,831,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its holdings in shares of 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 buying an additional 747 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in TeraWulf during the second quarter worth $41,000. Advisory Services Network LLC acquired a new position in TeraWulf during the 3rd quarter valued at $29,000. First United Bank & Trust acquired a new position in TeraWulf during the 1st quarter valued at $37,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock valued at $30,000 after purchasing an additional 2,394 shares during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Performance

NASDAQ WULF opened at $17.86 on Wednesday. TeraWulf Inc. has a twelve month low of $9.13 and a twelve month high of $29.84. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market cap of $8.91 billion, a P/E ratio of -4.09 and a beta of 3.70. The company's 50-day simple moving average is $18.02 and its 200 day simple moving average is $19.72.

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

Insider Transactions at TeraWulf

In other news, Director Walter Carter sold 130,626 shares of the business's stock in a transaction on 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 in the company, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul Prager sold 137,500 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the transaction, the chief executive officer directly owned 3,807,552 shares in the company, valued at $64,956,837.12. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 405,626 shares of company stock worth $7,980,928 over the last 90 days. 15.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Lucid Cap Mkts upgraded TeraWulf to a "strong-buy" rating in a research note on Wednesday, May 27th. Needham & Company LLC upped their price target on TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. HC Wainwright reiterated a "buy" rating on shares of TeraWulf in a research report on Friday, August 21st. Finally, Chardan Capital reissued a "buy" rating and set a $32.00 price objective on shares of TeraWulf in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.21.

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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