Hodges Capital Management Inc. Acquires 3,549,479 Shares of TeraWulf Inc. $WULF

Key Points

• Hodges Capital Management Inc. dramatically increased its stake in TeraWulf Inc. by 17,747.4%, owning approximately 3.57 million shares valued at $9.75 million post-acquisition.
• TeraWulf's stock price is currently at $10.64, with a significant market cap of $4.34 billion and a P/E ratio of -30.40.
• Several research analysts have raised their price targets for TeraWulf, with the consensus rating being a "Buy" and an average target price of $11.22.

Hodges Capital Management Inc. increased its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 17,747.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,569,479 shares of the company's stock after purchasing an additional 3,549,479 shares during the period. Hodges Capital Management Inc. owned approximately 0.93% of TeraWulf worth $9,745,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in WULF. Nuveen LLC acquired a new stake in shares of TeraWulf in the first quarter worth $1,770,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in TeraWulf during the first quarter valued at about $263,000. Quantbot Technologies LP bought a new stake in shares of TeraWulf during the first quarter valued at approximately $3,702,000. Vanguard Group Inc. lifted its stake in TeraWulf by 2.3% during the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock worth $65,193,000 after purchasing an additional 534,315 shares during the period. Finally, Quantitative Investment Management LLC bought a new stake in shares of TeraWulf in the 1st quarter worth about $149,000. 62.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the sale, the director owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on WULF shares. Compass Point assumed coverage on shares of TeraWulf in a research note on Monday. They issued a "buy" rating for the company. Roth Capital boosted their target price on TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a research note on Friday, August 15th. B. Riley increased their target price on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, August 18th. JMP Securities boosted their price target on shares of TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a research report on Friday, August 15th. Finally, Rosenblatt Securities boosted their price target on TeraWulf from $10.50 to $12.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $11.22.

TeraWulf Price Performance

WULF stock traded down $0.27 during trading on Monday, reaching $10.49. 35,982,658 shares of the company were exchanged, compared to its average volume of 45,645,391. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -29.97 and a beta of 3.36. TeraWulf Inc. has a twelve month low of $2.06 and a twelve month high of $11.23. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The company has a 50-day moving average of $7.00 and a two-hundred day moving average of $4.67.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The firm had revenue of $47.64 million for the quarter, compared to analyst estimates of $46.30 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The business's revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, equities analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

TeraWulf Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.