Harvest Portfolios Group Inc. cut its position in TeraWulf Inc. (NASDAQ:WULF – Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,533 shares of the company’s stock after selling 74,645 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in TeraWulf were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Kraematon Investment Advisors Inc. boosted its stake in TeraWulf by 2.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock valued at $488,000 after acquiring an additional 952 shares during the last quarter. R Squared Ltd boosted its stake in TeraWulf by 5.0% during the 4th quarter. R Squared Ltd now owns 22,207 shares of the company’s stock valued at $255,000 after acquiring an additional 1,056 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in TeraWulf by 10.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after acquiring an additional 1,293 shares during the last quarter. Xponance Inc. boosted its stake in TeraWulf by 7.3% during the 3rd quarter. Xponance Inc. now owns 22,215 shares of the company’s stock valued at $254,000 after acquiring an additional 1,503 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in TeraWulf by 5.2% during the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock valued at $164,000 after acquiring an additional 1,869 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
TeraWulf Trading Up 1.4%
TeraWulf stock opened at $21.63 on Thursday. The firm’s 50-day moving average is $18.78 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $25.76. The company has a market cap of $10.72 billion, a P/E ratio of -8.72 and a beta of 3.84.
Insider Transactions at TeraWulf
In other TeraWulf news, Director Michael C. Bucella purchased 3,171 shares of TeraWulf stock in a transaction dated Wednesday, March 4th. The shares were bought at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the transaction, the director owned 270,129 shares in the company, valued at $4,262,635.62. This represents a 1.19% increase in their position. The transaction 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 the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $20.80, for a total transaction of $2,860,000.00. Following the completion of the transaction, the chief executive officer owned 963,520 shares in the company, valued at approximately $20,041,216. The trade was a 12.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. Insiders own 15.90% of the company’s stock.
Analyst Upgrades and Downgrades
WULF has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley increased their price objective on shares of TeraWulf to $42.00 and gave the company an “overweight” rating in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of TeraWulf in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and an average price target of $27.59.
Get Our Latest Analysis on WULF
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.
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