TeraWulf Inc. $WULF Shares Bought by Engle Capital Management L.P.

Key Points

• Engle Capital Management increased its TeraWulf stake by 574.3% in the first quarter, acquiring 2.51 million additional shares. The fund now owns 2.95 million shares worth approximately $42.6 million, representing 14.5% of its portfolio.
• Analysts remain broadly optimistic, with TeraWulf receiving a consensus “Moderate Buy” rating and an average price target of $34.46. Recent targets range from $28 to $36.
• TeraWulf reported a significant quarterly loss, posting adjusted EPS of negative $1.01 versus estimates of negative $0.19, while revenue fell 1.1% year over year to $34.01 million. The stock opened at $17.98 and has a high beta of 3.73, indicating substantial volatility.

Engle Capital Management L.P. grew its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 574.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,950,100 shares of the company's stock after acquiring an additional 2,512,600 shares during the period. TeraWulf comprises approximately 14.5% of Engle Capital Management L.P.'s holdings, making the stock its biggest holding. Engle Capital Management L.P. owned about 0.60% of TeraWulf worth $42,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kraematon Investment Advisors Inc. increased its holdings in TeraWulf by 2.3% in the 4th 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 in the last quarter. R Squared Ltd raised its position in TeraWulf by 5.0% in 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. lifted 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 worth $724,000 after purchasing an additional 1,259 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company's stock worth $142,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Xponance LLC boosted its position in shares of TeraWulf by 7.7% in the fourth quarter. Xponance LLC now owns 23,928 shares of the company's stock worth $275,000 after buying an additional 1,713 shares during the period. Institutional investors and hedge funds own 62.49% of the company's stock.

Analysts Set New Price Targets

WULF has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on TeraWulf in a research note on Thursday, May 14th. They issued a "buy" rating and a $28.00 target price for the company. Lucid Cap Mkts raised TeraWulf to a "strong-buy" rating in a research report on Wednesday, May 27th. Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Bank of America initiated coverage on shares of TeraWulf in a research report on Monday, June 15th. They issued a "buy" rating and a $34.00 price objective for the company. Finally, Citigroup initiated coverage on shares of TeraWulf in a research note on Monday, June 29th. They set a "buy" rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.46.

TeraWulf Stock Performance

NASDAQ:WULF opened at $17.98 on Tuesday. The firm has a 50-day moving average of $23.69 and a two-hundred day moving average of $19.23. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $8.91 billion, a P/E ratio of -7.25 and a beta of 3.73. TeraWulf Inc. has a 1-year low of $4.64 and a 1-year high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $34.69 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that TeraWulf Inc. will post -1.09 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 the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction 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. This trade represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by company 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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