TeraWulf Inc. $WULF Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its TeraWulf stake by 8.6%, selling 76,448 shares and retaining 809,436 shares worth approximately $11.68 million. Institutional investors and hedge funds collectively own 62.49% of WULF.
• CEO Paul B. Prager sold 137,500 shares for about $3.66 million under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 3.37%; insiders still own 15.90% of the company.
• TeraWulf reported a quarterly loss of $1.01 per share, significantly missing the $0.19 consensus estimate, while revenue declined 1.1% year over year to $34.01 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $34.29.

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 8.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 809,436 shares of the company's stock after selling 76,448 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.16% of TeraWulf worth $11,680,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WULF. Advisory Services Network LLC acquired a new stake in TeraWulf in the 3rd quarter valued at $29,000. Vermillion Wealth Management Inc. raised its position in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in TeraWulf during the fourth quarter worth $34,000. Comerica Bank lifted its holdings in TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, First United Bank & Trust purchased a new position in TeraWulf during the first quarter valued at $37,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Paul B. Prager sold 137,500 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares of the company's stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company's stock.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $17.09 on Wednesday. The business's 50 day moving average price is $23.61 and its 200 day moving average price is $19.27. The company has a market cap of $8.47 billion, a price-to-earnings ratio of -6.89 and a beta of 3.73. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a one year low of $4.64 and a one year high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $34.01 million during the quarter, compared to analysts' expectations of $34.69 million. During the same quarter in the previous year, the company earned ($0.16) earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that TeraWulf Inc. will post -1.09 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on WULF shares. Keefe, Bruyette & Woods cut their target price on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday. Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Northland Securities set a $30.00 price objective on TeraWulf in a report on Monday, May 4th. Citigroup assumed coverage on TeraWulf in a research note on Monday, June 29th. They set a "buy" rating and a $36.00 price objective for the company. Finally, B. Riley Financial increased their target price on TeraWulf from $27.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, TeraWulf has an average rating of "Moderate Buy" and an average price target of $34.29.

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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