Two Seas Capital LP increased its stake in shares of TeraWulf Inc. (NASDAQ:WULF – Free Report) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,502,794 shares of the company’s stock after purchasing an additional 651,606 shares during the quarter. TeraWulf makes up approximately 1.1% of Two Seas Capital LP’s holdings, making the stock its 12th largest holding. Two Seas Capital LP’s holdings in TeraWulf were worth $51,737,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Bank of America Corp DE increased its position in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after purchasing an additional 2,617,617 shares in the last quarter. Geode Capital Management LLC increased its position in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after purchasing an additional 318,842 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in TeraWulf in the 3rd quarter valued at about $69,006,000. Finally, Wellington Management Group LLP grew its holdings in TeraWulf by 36,193.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.
Wall Street Analysts Forecast Growth
WULF has been the subject of several recent analyst reports. Morgan Stanley set a $66.50 price target on TeraWulf in a report on Wednesday. Needham & Company LLC lifted their price target on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Keefe, Bruyette & Woods lifted their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday. They issued an “outperform” rating and a $46.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.72.
TeraWulf Stock Performance
NASDAQ WULF opened at $24.00 on Friday. The firm has a market capitalization of $11.89 billion, a P/E ratio of -9.68 and a beta of 3.82. TeraWulf Inc. has a 1-year low of $3.39 and a 1-year high of $27.47. 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 $21.07 and its 200-day simple moving average is $16.63.
TeraWulf (NASDAQ:WULF – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $34.01 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) earnings per share. Equities analysts predict that TeraWulf Inc. will post -0.96 EPS for the current year.
Insider Activity
In other news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction dated Tuesday, May 26th. The stock was 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 of the company’s stock, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Patrick Fleury sold 573,586 shares of TeraWulf stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer directly owned 3,205,000 shares in the company, valued at $51,728,700. This represents a 15.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. Corporate insiders own 15.90% of the company’s stock.
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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