Harvest Portfolios Group Inc. Increases Position in TeraWulf Inc. $WULF

Harvest Portfolios Group Inc. increased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 66.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 171,455 shares of the company’s stock after acquiring an additional 68,172 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in TeraWulf were worth $751,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of TeraWulf during the first quarter worth $29,000. Nisa Investment Advisors LLC lifted its position in TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after buying an additional 3,784 shares during the period. Arete Wealth Advisors LLC acquired a new stake in TeraWulf in the 1st quarter worth about $33,000. Comerica Bank grew its holdings in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares during the period. Finally, Platform Technology Partners purchased a new stake in TeraWulf in the 1st quarter valued at about $39,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.90% of the company’s stock.

TeraWulf Trading Down 2.4%

NASDAQ WULF opened at $13.94 on Friday. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of -39.83 and a beta of 3.57. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. TeraWulf Inc. has a one year low of $2.06 and a one year high of $17.05. The company’s 50 day moving average price is $12.36 and its 200 day moving average price is $7.46.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The business had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. During the same period in the previous year, the company earned ($0.03) EPS. TeraWulf’s revenue was up 33.9% on a year-over-year basis. On average, sell-side analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WULF shares. Rosenblatt Securities increased their price objective on shares of TeraWulf from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Compass Point set a $17.00 price target on shares of TeraWulf and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald increased their price target on shares of TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Northland Securities set a $23.25 price target on shares of TeraWulf in a report on Wednesday, October 29th. Finally, UBS Group set a $18.25 price objective on TeraWulf in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.