Freemont Management S.A. bought a new position in TeraWulf Inc. (NASDAQ:WULF – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 226,600 shares of the company’s stock, valued at approximately $3,270,000.
Other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new stake in shares of TeraWulf in the first quarter valued at about $53,418,000. Sanctuary Advisors LLC raised its stake in TeraWulf by 20.5% during the first quarter. Sanctuary Advisors LLC now owns 15,185 shares of the company’s stock worth $219,000 after purchasing an additional 2,583 shares during the period. Sigma Planning Corp raised its stake in TeraWulf by 40.9% during the first quarter. Sigma Planning Corp now owns 44,450 shares of the company’s stock worth $641,000 after purchasing an additional 12,900 shares during the period. Objective Capital Management LLC acquired a new position in TeraWulf in the 1st quarter valued at about $159,000. Finally, Principal Financial Group Inc. boosted its holdings in TeraWulf by 24.5% in the 1st quarter. Principal Financial Group Inc. now owns 21,952 shares of the company’s stock valued at $317,000 after purchasing an additional 4,324 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.
Insider Buying and Selling
In other 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 transaction of $4,071,259.50. Following the completion of the transaction, 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 SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 520,850 shares of company stock worth $12,221,864 in the last 90 days. 15.90% of the stock is owned by corporate insiders.
TeraWulf Price Performance
TeraWulf (NASDAQ:WULF – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) 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 return on equity of 305.07% and a negative net margin of 611.46%.The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, analysts forecast that TeraWulf Inc. will post -1.09 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a research report on Wednesday. Sanford C. Bernstein began coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Finally, Arete Research assumed coverage on TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.
View Our Latest Stock Report on WULF
TeraWulf Company 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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