85,000 Shares in TeraWulf Inc. $WULF Bought by Senator Investment Group LP

Senator Investment Group LP bought a new position in TeraWulf Inc. (NASDAQ:WULF) during the 4th quarter, HoldingsChannel reports. The fund bought 85,000 shares of the company’s stock, valued at approximately $977,000.

Other hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of TeraWulf in the third quarter worth $29,000. Vermillion Wealth Management Inc. increased its stake in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC purchased a new position in shares of TeraWulf in the fourth quarter worth $34,000. Comerica Bank increased its stake in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after buying an additional 12,370 shares during the period. Finally, Activest Wealth Management purchased a new position in shares of TeraWulf in the fourth quarter worth $46,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WULF shares. Morgan Stanley set a $66.50 price objective on shares of TeraWulf in a research report on Wednesday, June 3rd. Arete Research started coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Friday, March 27th. Jefferies Financial Group started coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and an average price target of $31.86.

TeraWulf Stock Up 8.1%

Shares of TeraWulf stock opened at $28.17 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company’s fifty day simple moving average is $22.39 and its two-hundred day simple moving average is $17.23. The company has a market cap of $13.96 billion, a P/E ratio of -11.36 and a beta of 3.82. TeraWulf Inc. has a 12-month low of $3.39 and a 12-month high of $28.45.

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

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost 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 approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 4,916 shares of company stock worth $74,989 and sold 520,850 shares worth $10,778,114. 15.90% of the stock is owned by corporate insiders.

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.