Clearbridge Investments LLC cut its stake in shares of TeraWulf Inc. (NASDAQ:WULF – Free Report) by 17.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 839,662 shares of the company’s stock after selling 181,754 shares during the quarter. Clearbridge Investments LLC’s holdings in TeraWulf were worth $9,648,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 buying an additional 9,162,958 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after buying an additional 43,574 shares during the period. Pictet Asset Management Holding SA lifted its holdings in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after buying an additional 96,843 shares during the period. Quantbot Technologies LP acquired a new stake in TeraWulf during the 3rd quarter valued at approximately $3,350,000. Finally, GSA Capital Partners LLP acquired a new stake in TeraWulf during the 3rd quarter valued at approximately $885,000. 62.49% of the stock is owned by institutional investors and hedge funds.
TeraWulf Trading Down 8.3%
NASDAQ WULF opened at $23.19 on Thursday. The business has a 50 day simple moving average of $21.67 and a 200 day simple moving average of $16.94. TeraWulf Inc. has a one year low of $3.39 and a one year high of $27.78. The stock has a market capitalization of $11.49 billion, a P/E ratio of -9.35 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on WULF shares. Jefferies Financial Group started coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research report on Thursday, June 4th. B. Riley Financial increased their target price on shares of TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and an average target price of $31.72.
View Our Latest Analysis on TeraWulf
Insider Activity at TeraWulf
In related news, CFO Patrick Fleury sold 573,586 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the transaction, the chief financial officer owned 3,205,000 shares in the company, valued at $51,728,700. The trade was a 15.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. 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 have purchased 6,500 shares of company stock worth $100,333 and have sold 1,120,850 shares worth $20,462,114. 15.90% of the stock is owned by corporate insiders.
About TeraWulf
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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