MYDA Advisors LLC Lowers Holdings in TeraWulf Inc. $WULF

MYDA Advisors LLC cut its holdings in TeraWulf Inc. (NASDAQ:WULF) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,000 shares of the company’s stock after selling 110,000 shares during the period. TeraWulf accounts for 0.8% of MYDA Advisors LLC’s holdings, making the stock its 28th biggest holding. MYDA Advisors LLC’s holdings in TeraWulf were worth $4,366,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in TeraWulf in the 3rd quarter worth approximately $29,000. Vermillion Wealth Management Inc. lifted its holdings in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth approximately $34,000. Activest Wealth Management purchased a new stake in shares of TeraWulf during the 4th quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TeraWulf by 116.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $61,000 after acquiring an additional 2,874 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WULF has been the topic of several recent research reports. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Thursday, June 4th. Keefe, Bruyette & Woods upped their price objective on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price objective on shares of TeraWulf in a report on Monday, May 11th. Finally, Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.72.

TeraWulf Price Performance

Shares of WULF opened at $26.06 on Monday. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of -10.51 and a beta of 3.82. 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 business’s 50 day simple moving average is $22.12 and its 200-day simple moving average is $17.13. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $27.78.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. As a group, equities analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael C. Bucella bought 1,665 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director owned 280,052 shares in the company, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. This represents a 3.77% 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. In the last 90 days, insiders have purchased 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. Corporate insiders own 15.90% of the company’s stock.

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.