Dimensional Fund Advisors LP acquired a new stake in TeraWulf Inc. (NASDAQ:WULF – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 103,353 shares of the company’s stock, valued at approximately $1,491,000.
Several other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC purchased a new position in shares of TeraWulf in the third quarter worth about $29,000. Vermillion Wealth Management Inc. increased its stake in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares during the last quarter. Solstein Capital LLC bought a new position in shares of TeraWulf in the 4th quarter worth $34,000. Comerica Bank lifted its stake in TeraWulf by 3,748.5% during the first 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 last quarter. Finally, First United Bank & Trust bought a new position in TeraWulf during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.
TeraWulf Price Performance
NASDAQ:WULF opened at $17.38 on Friday. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 1.20. The business has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $19.56. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of -3.98 and a beta of 3.76. TeraWulf Inc. has a 1 year low of $8.14 and a 1 year high of $29.84.
Insider Activity
In other news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on WULF shares. Jefferies Financial Group started coverage on TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Morgan Stanley lowered their price objective on TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research report on Thursday. Roth Capital reissued a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. Chardan Capital restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research note on Wednesday, August 5th. Finally, Needham & Company LLC boosted their price target on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.21.
View Our Latest Stock Report on WULF
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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