Wellington Management Group LLP Cuts Stake in TeraWulf Inc. $WULF

Key Points

• Wellington Management reduced its TeraWulf stake by 12.7% in the second quarter, selling 540,546 shares and retaining 3.71 million shares worth approximately $91.7 million. Institutional investors and hedge funds collectively own 62.49% of WULF.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a $34.21 price target. However, TeraWulf’s latest quarter missed earnings expectations significantly, reporting a loss of $1.94 per share versus the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.
• WULF shares opened at $14.65 after declining 3.2%; insider activity was mixed, with the CEO selling 137,500 shares under a 10b5-1 plan while a director purchased 2,860 shares. Insiders have sold 405,626 shares worth nearly $8 million over the past 90 days.

Wellington Management Group LLP cut its stake in TeraWulf Inc. (NASDAQ:WULF - Free Report) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,714,411 shares of the company's stock after selling 540,546 shares during the quarter. Wellington Management Group LLP owned approximately 0.74% of TeraWulf worth $91,746,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WULF. GAMMA Investing LLC boosted its stake in shares of TeraWulf by 25.2% in the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company's stock worth $84,000 after acquiring an additional 681 shares during the last quarter. CoreCap Advisors LLC raised its stake in TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. Franklin Resources Inc. lifted its holdings in TeraWulf by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 63,005 shares of the company's stock valued at $724,000 after purchasing an additional 1,259 shares in the last quarter. IFP Advisors Inc boosted its stake in TeraWulf by 14.5% during the 4th quarter. IFP Advisors Inc now owns 12,378 shares of the company's stock worth $142,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Xponance LLC boosted its stake in TeraWulf by 7.7% during the 4th quarter. Xponance LLC now owns 23,928 shares of the company's stock worth $275,000 after purchasing an additional 1,713 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Chardan Capital reiterated a "buy" rating and issued a $32.00 target price on shares of TeraWulf in a research report on Wednesday, August 5th. Rosenblatt Securities restated a "buy" rating and set a $30.00 price target on shares of TeraWulf in a research report on Friday, August 21st. Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a "buy" rating and a $28.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Finally, Needham & Company LLC boosted their target price on TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.21.

Insider Activity

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares of the company's stock, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 2,860 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the acquisition, the director directly owned 344,704 shares of the company's stock, valued at $6,021,978.88. The trade was a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 405,626 shares of company stock valued at $7,980,928. 15.90% of the stock is currently owned by company insiders.

TeraWulf Trading Down 3.2%

Shares of WULF opened at $14.65 on Wednesday. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84. The firm has a market capitalization of $7.31 billion, a P/E ratio of -3.35 and a beta of 3.71. The firm has a 50-day moving average price of $18.96 and a 200 day moving average price of $19.70. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that TeraWulf Inc. will post -0.95 EPS for the current 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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