VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.34 Million Investment in TeraWulf Inc. $WULF

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,100 shares of the company’s stock, valued at approximately $1,336,000.

A number of other institutional investors have also modified their holdings of WULF. BlackRock Inc. acquired a new position in TeraWulf during the 2nd quarter worth about $577,805,000. California State Teachers Retirement System grew its position in TeraWulf by 2,931.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after acquiring an additional 10,503,051 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in TeraWulf during the third quarter worth about $69,006,000. Bank of America Corp DE purchased a new stake in TeraWulf during the second quarter worth about $140,057,000. Finally, Wellington Management Group LLP lifted its position in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $16.74 on Friday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $29.84. The firm has a market capitalization of $8.35 billion, a PE ratio of -3.83 and a beta of 3.70. The stock’s 50-day simple moving average is $17.70 and its 200-day simple moving average is $19.72.

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

Insider Transactions at TeraWulf

In related news, Director Walter E. Carter sold 130,626 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares in the company, valued at $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. 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 quarter, insiders sold 405,626 shares of company stock worth $7,980,928. 15.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on WULF. Needham & Company LLC raised their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 price target on shares of TeraWulf in a research report on Wednesday, July 15th. Sanford C. Bernstein began coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target for the company. Bank of America initiated coverage on TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $32.00 target price on shares of TeraWulf in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

TeraWulf Profile

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.