SBI Securities Co. Ltd. Reduces Holdings in TeraWulf Inc. $WULF

SBI Securities Co. Ltd. reduced its stake in TeraWulf Inc. (NASDAQ:WULF) by 76.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,044 shares of the company’s stock after selling 125,616 shares during the period. SBI Securities Co. Ltd.’s holdings in TeraWulf were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in shares of TeraWulf by 135.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after purchasing an additional 3,784 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in TeraWulf by 265.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after acquiring an additional 4,800 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of TeraWulf by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after acquiring an additional 2,748 shares during the period. Comerica Bank raised its stake in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of TeraWulf during the second quarter worth about $41,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

WULF has been the subject of a number of recent analyst reports. Compass Point set a $17.00 price target on TeraWulf and gave the company a “neutral” rating in a research report on Tuesday, October 28th. B. Riley Financial upped their target price on TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Citizens Jmp raised their price target on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Northland Securities set a $23.25 price objective on shares of TeraWulf in a research report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $9.50 to $24.00 in a report on Wednesday, December 31st. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.15.

TeraWulf Price Performance

NASDAQ WULF opened at $14.29 on Friday. TeraWulf Inc. has a one year low of $2.06 and a one year high of $17.05. The stock has a 50-day moving average of $13.47 and a 200 day moving average of $11.71. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -10.06 and a beta of 3.69.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The company had revenue of $50.58 million for the quarter, compared to the consensus estimate of $56.27 million. TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business’s quarterly revenue was up 86.9% on a year-over-year basis. On average, sell-side analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 4,178 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the purchase, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. This represents a 1.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 19.90% of the stock is owned by insiders.

TeraWulf 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.