Canada Pension Plan Investment Board Makes New Investment in TeraWulf Inc. $WULF

Canada Pension Plan Investment Board bought a new stake in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, HoldingsChannel reports. The fund bought 1,601,057 shares of the company’s stock, valued at approximately $39,546,000.

Several other hedge funds have also modified their holdings of WULF. GAMMA Investing LLC boosted its holdings in TeraWulf by 25.2% in the 2nd 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 period. CoreCap Advisors LLC lifted its position in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares in the last quarter. R Squared Ltd lifted its position in shares of TeraWulf by 5.0% during the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after purchasing an additional 1,056 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of TeraWulf by 2.0% in the fourth 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 during the period. Finally, IFP Advisors Inc boosted its stake in shares of TeraWulf by 14.5% in the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock valued at $142,000 after purchasing an additional 1,563 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 2,860 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the transaction, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares in the company, valued at $104,938,383.20. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by company insiders.

TeraWulf Trading Up 3.3%

NASDAQ:WULF opened at $16.49 on Friday. 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 $8.23 billion, a P/E ratio of -3.77 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $19.73.

TeraWulf (NASDAQ:WULF) last issued 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 return on equity of 458.62% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same period in the prior year, the business earned ($0.05) earnings per share. TeraWulf’s quarterly revenue was down 6.0% on a year-over-year basis. Equities research analysts predict that TeraWulf Inc. will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WULF. Keefe, Bruyette & Woods dropped their price target 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. HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Compass Point set a $40.00 price target on TeraWulf in a research note on Monday, July 6th. Sanford C. Bernstein started coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Citigroup began coverage on TeraWulf in a research report on Monday, June 29th. They issued a “buy” rating and a $36.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.21.

About TeraWulf

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.