Tortoise Investment Management LLC Acquires New Position in TeraWulf Inc. $WULF

Key Points

• Tortoise Investment Management LLC has acquired 159,439 shares of TeraWulf Inc., valued at approximately $435,000, during the first quarter of the year.
• Several institutions, including Comerica Bank and Calamos Advisors LLC, have recently increased their stakes in TeraWulf, which now has institutional ownership of 62.49%.
• Analysts' ratings for TeraWulf vary, with some firms projecting price targets as high as $15.00, indicating potential growth despite mixed earnings results.

Tortoise Investment Management LLC purchased a new stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 159,439 shares of the company's stock, valued at approximately $435,000.

Other hedge funds have also bought and sold shares of the company. Calamos Advisors LLC acquired a new stake in TeraWulf in the 1st quarter valued at $33,000. Comerica Bank grew its position in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Platform Technology Partners acquired a new stake in TeraWulf in the 1st quarter valued at $39,000. Kraematon Investment Advisors Inc. acquired a new stake in TeraWulf in the 1st quarter valued at $42,000. Finally, Regatta Capital Group LLC acquired a new stake in TeraWulf in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 62.49% of the company's stock.

Insider Transactions at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the sale, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. The trade was a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WULF. Northland Securities lifted their price objective on shares of TeraWulf from $12.00 to $15.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Cantor Fitzgerald lifted their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen downgraded shares of TeraWulf from a "hold" rating to a "sell" rating in a report on Sunday, August 24th. Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a report on Thursday, May 22nd. Finally, Roth Capital lifted their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of "Buy" and a consensus price target of $11.22.

TeraWulf Stock Performance

Shares of NASDAQ:WULF traded up $0.01 during midday trading on Friday, reaching $9.45. The company had a trading volume of 35,622,346 shares, compared to its average volume of 66,003,916. The company's 50 day moving average price is $5.93 and its 200 day moving average price is $4.29. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. The stock has a market cap of $3.86 billion, a P/E ratio of -27.00 and a beta of 3.36. TeraWulf Inc. has a 52-week low of $2.06 and a 52-week high of $10.71.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share (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 during the quarter, compared to the consensus estimate of $46.30 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company's revenue was up 33.9% on a year-over-year basis. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

About TeraWulf

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.