TeraWulf Inc. $WULF Shares Purchased by Two Seas Capital LP

Key Points

• Two Seas Capital LP boosted its TeraWulf stake by 16.9% in the fourth quarter, ending with 4.5 million shares valued at about $51.7 million.
• Wall Street remains broadly positive on WULF, with multiple analysts raising price targets and the stock carrying a consensus “Moderate Buy” rating with an average target of $31.72.
• TeraWulf’s latest results disappointed, as it reported a wider-than-expected quarterly loss of $1.01 per share and revenue of $34.01 million, while the stock also traded down 8.4% in the session cited.

Two Seas Capital LP increased its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,502,794 shares of the company's stock after purchasing an additional 651,606 shares during the quarter. TeraWulf accounts for approximately 1.1% of Two Seas Capital LP's holdings, making the stock its 12th biggest position. Two Seas Capital LP owned approximately 1.08% of TeraWulf worth $51,737,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth $29,000. Activest Wealth Management purchased a new position in TeraWulf in the fourth quarter worth $46,000. PNC Financial Services Group Inc. raised its position in TeraWulf by 116.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company's stock worth $61,000 after acquiring an additional 2,874 shares in the last quarter. Global Retirement Partners LLC raised its position in TeraWulf by 1,184.2% in the fourth quarter. Global Retirement Partners LLC now owns 5,702 shares of the company's stock worth $66,000 after acquiring an additional 5,258 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in TeraWulf by 480.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 5,800 shares of the company's stock worth $67,000 after acquiring an additional 4,800 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC increased their price objective on TeraWulf from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Cantor Fitzgerald increased their price objective on TeraWulf from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Oppenheimer reiterated an "outperform" rating and issued a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, Morgan Stanley set a $66.50 price objective on TeraWulf in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.72.

Insider Activity

In other news, Director Michael C. Bucella purchased 1,665 shares of the company's stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director directly owned 280,052 shares in the company, valued at $4,211,982.08. This represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Patrick Fleury sold 573,586 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares of the company's stock, valued at approximately $51,728,700. This represents a 15.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 8,590 shares of company stock worth $130,291 and sold 1,120,850 shares worth $20,462,114. Company insiders own 15.90% of the company's stock.

TeraWulf Trading Down 8.4%

Shares of WULF stock opened at $24.00 on Friday. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $27.47. The stock has a market cap of $11.89 billion, a P/E ratio of -9.68 and a beta of 3.82. The business has a fifty day simple moving average of $21.07 and a 200-day simple moving average of $16.63. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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 net margin of 611.46% and a negative return on equity of 305.07%. The firm had revenue of $34.01 million during the quarter, compared to analysts' expectations of $34.69 million. During the same quarter in the prior year, the business earned ($0.16) EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

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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