TeraWulf Inc. $WULF Stock Holdings Lessened by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its position in TeraWulf Inc. (NASDAQ:WULF) by 57.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,395 shares of the company’s stock after selling 441,876 shares during the quarter. Engineers Gate Manager LP owned approximately 0.07% of TeraWulf worth $8,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in TeraWulf during the third quarter worth $29,000. Vermillion Wealth Management Inc. boosted its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new stake in shares of TeraWulf during the 4th quarter worth about $34,000. Comerica Bank increased its holdings in shares of TeraWulf by 3,748.5% during the 1st 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, CoreCap Advisors LLC increased its holdings in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after acquiring an additional 747 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael C. Bucella bought 2,860 shares of TeraWulf stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 405,626 shares of company stock worth $7,980,928 in the last ninety days. Insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WULF has been the subject of several analyst reports. William Blair began coverage on TeraWulf in a report on Friday, August 28th. They issued an “outperform” rating for the company. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of TeraWulf in a research report on Friday, August 21st. Compass Point set a $40.00 price objective on shares of TeraWulf in a research note on Monday, July 6th. Chardan Capital reiterated a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research note on Wednesday, August 5th. Finally, Freedom Capmkts upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

TeraWulf Stock Down 5.8%

Shares of WULF stock opened at $16.14 on Friday. TeraWulf Inc. has a 12 month low of $10.04 and a 12 month high of $29.84. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The firm has a market cap of $8.05 billion, a PE ratio of -3.69 and a beta of 3.70. The stock has a 50 day moving average of $17.79 and a 200-day moving average of $19.74.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities analysts predict that TeraWulf Inc. will post -0.95 EPS for the current year.

About TeraWulf

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.