Engle Capital Management L.P. Boosts Position in TeraWulf Inc. $WULF

Engle Capital Management L.P. raised its stake in TeraWulf Inc. (NASDAQ:WULF) by 574.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,950,100 shares of the company’s stock after purchasing an additional 2,512,600 shares during the period. TeraWulf accounts for approximately 14.5% of Engle Capital Management L.P.’s holdings, making the stock its biggest holding. Engle Capital Management L.P.’s holdings in TeraWulf were worth $42,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WULF. Vanguard Group Inc. grew its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in TeraWulf during the third quarter valued at approximately $69,006,000. Wellington Management Group LLP lifted its holdings in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after buying an additional 3,891,127 shares during the last quarter. Jennison Associates LLC bought a new position in TeraWulf during the 1st quarter worth approximately $53,418,000. Finally, Marshall Wace LLP grew its position in shares of TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after acquiring an additional 2,713,587 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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 trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WULF has been the subject of a number of research analyst reports. Needham & Company LLC boosted their price target on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Northland Securities set a $30.00 price objective on shares of TeraWulf in a report on Monday, May 4th. Jefferies Financial Group initiated coverage on shares of TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Finally, Roth Capital restated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.46.

TeraWulf Stock Down 2.6%

NASDAQ:WULF opened at $17.98 on Tuesday. The firm has a market capitalization of $8.91 billion, a PE ratio of -7.25 and a beta of 3.73. The stock has a 50 day moving average of $23.69 and a 200-day moving average of $19.23. TeraWulf Inc. has a 52 week low of $4.64 and a 52 week high of $29.84. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last announced its quarterly 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 company had revenue of $34.01 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) earnings per share. Analysts predict that TeraWulf Inc. will post -1.09 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.