Dockside LLC purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 68,091 shares of the company’s stock, valued at approximately $782,000.
A number of other large investors also recently made changes to their positions in WULF. Comerica Bank lifted its stake in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the period. Millennium Management LLC lifted its stake in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning lifted its stake in shares of TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock worth $209,000 after purchasing an additional 33,317 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after purchasing an additional 5,432 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.
TeraWulf Stock Performance
NASDAQ:WULF opened at $26.06 on Monday. The business’s 50-day moving average is $22.12 and its two-hundred day moving average is $17.13. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. TeraWulf Inc. has a 12 month low of $3.39 and a 12 month high of $27.78. The firm has a market capitalization of $12.91 billion, a PE ratio of -10.51 and a beta of 3.82.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research report on Friday, April 17th. B. Riley Financial increased their target price on TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 target price on shares of TeraWulf in a research report on Monday, May 11th. Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.72.
Get Our Latest Stock Analysis on TeraWulf
Insider Buying and Selling at TeraWulf
In related news, Director Michael C. Bucella acquired 1,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the transaction, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. 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. Over the last three months, insiders have purchased 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. 15.90% of the stock is currently owned by corporate insiders.
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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