Zweig DiMenna Associates LLC Has $9.64 Million Stock Holdings in TeraWulf Inc. $WULF

Key Points

• Zweig DiMenna Associates LLC cut its TeraWulf stake by 64.4% in the first quarter, selling over 1.2 million shares and leaving it with 667,830 shares worth about $9.64 million.
• TeraWulf shares were down 7.1% to $19.41, even as the company’s market cap remained around $9.62 billion; the stock has traded between a $4.64 52-week low and $29.84 high.
• The company reported a wider-than-expected loss for the latest quarter, with EPS of ($1.01) versus estimates of ($0.19), while analysts currently rate the stock Moderate Buy with a consensus price target of $34.25.

Zweig DiMenna Associates LLC trimmed its stake in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 64.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 667,830 shares of the company's stock after selling 1,210,120 shares during the quarter. TeraWulf makes up 1.3% of Zweig DiMenna Associates LLC's holdings, making the stock its 27th biggest holding. Zweig DiMenna Associates LLC owned about 0.15% of TeraWulf worth $9,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC increased its position in TeraWulf by 20.5% in the 1st quarter. Sanctuary Advisors LLC now owns 15,185 shares of the company's stock valued at $219,000 after buying an additional 2,583 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of TeraWulf by 40.9% in the first quarter. Sigma Planning Corp now owns 44,450 shares of the company's stock valued at $641,000 after purchasing an additional 12,900 shares during the last quarter. Objective Capital Management LLC bought a new position in shares of TeraWulf during the 1st quarter worth approximately $159,000. Principal Financial Group Inc. increased its position in shares of TeraWulf by 24.5% during the 1st quarter. Principal Financial Group Inc. now owns 21,952 shares of the company's stock valued at $317,000 after purchasing an additional 4,324 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in TeraWulf in the first quarter worth about $267,000. Institutional investors own 62.49% of the company's stock.

TeraWulf Trading Down 7.1%

Shares of WULF opened at $19.41 on Wednesday. The firm has a market cap of $9.62 billion, a P/E ratio of -7.83 and a beta of 3.73. TeraWulf Inc. has a 1 year low of $4.64 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50 day simple moving average of $24.49 and a two-hundred day simple moving average of $18.80.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to analysts' expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) EPS. On average, equities analysts expect that TeraWulf Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares of the company's stock, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 520,850 shares of company stock worth $12,221,864 in the last 90 days. Company insiders own 15.90% of the company's stock.

Analysts Set New Price Targets

WULF has been the subject of a number of research reports. Sanford C. Bernstein started coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price target for the company. Northland Securities set a $30.00 target price on TeraWulf in a research note on Monday, May 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TeraWulf in a research report on Wednesday, June 24th. Jefferies Financial Group began coverage on TeraWulf in a research note on Thursday, May 14th. They issued a "buy" rating and a $28.00 price target on the stock. Finally, Zacks Research cut TeraWulf from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.25.

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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