Nicholas Investment Partners LP acquired a new position in TeraWulf Inc. (NASDAQ:WULF – Free Report) in the 4th quarter, Holdings Channel reports. The firm acquired 217,667 shares of the company’s stock, valued at approximately $2,501,000.
Several other hedge funds also recently added to or reduced their stakes in WULF. Fieldview Capital Management LLC acquired a new position in TeraWulf during the fourth quarter worth $147,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in TeraWulf by 110.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 885,884 shares of the company’s stock worth $10,179,000 after purchasing an additional 464,345 shares in the last quarter. Dockside LLC acquired a new position in TeraWulf during the fourth quarter worth $782,000. FORA Capital LLC lifted its stake in TeraWulf by 364.4% during the fourth quarter. FORA Capital LLC now owns 403,284 shares of the company’s stock worth $4,634,000 after purchasing an additional 316,451 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in TeraWulf by 574.2% during the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after purchasing an additional 2,713,587 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 1,665 shares of the business’s stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the purchase, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 6,500 shares of company stock worth $100,333 and have sold 1,120,850 shares worth $20,462,114. Insiders own 15.90% of the company’s stock.
TeraWulf Stock Up 2.8%
TeraWulf (NASDAQ:WULF – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company 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 firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share. As a group, equities analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.
Analyst Ratings Changes
WULF has been the topic of a number of research reports. Needham & Company LLC upped their price target on TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Rosenblatt Securities restated a “buy” rating and set a $27.00 price target on shares of TeraWulf in a research note on Monday, May 11th. Jefferies Financial Group began coverage on TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Sanford C. Bernstein began coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.72.
Read Our Latest Stock Analysis on WULF
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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