Marnell Management LLC Buys Shares of 565,928 TeraWulf Inc. $WULF

Marnell Management LLC bought a new stake in TeraWulf Inc. (NASDAQ:WULF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 565,928 shares of the company’s stock, valued at approximately $6,503,000. TeraWulf accounts for approximately 3.2% of Marnell Management LLC’s portfolio, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Next Century Growth Investors LLC increased its position in TeraWulf by 52.9% in the fourth quarter. Next Century Growth Investors LLC now owns 1,180,535 shares of the company’s stock worth $13,564,000 after buying an additional 408,377 shares in the last quarter. Nicholas Investment Partners LP purchased a new stake in TeraWulf in the fourth quarter worth about $2,501,000. Fieldview Capital Management LLC purchased a new stake in TeraWulf in the fourth quarter worth about $147,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in TeraWulf by 110.2% in 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 buying an additional 464,345 shares in the last quarter. Finally, Dockside LLC purchased a new stake in TeraWulf in the fourth quarter worth about $782,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on WULF shares. Roth Mkm restated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. 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 report on Monday, May 11th. Morgan Stanley set a $66.50 price target on TeraWulf in a research report on Wednesday, June 3rd. Sanford C. Bernstein started coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.72.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the firm’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 value of $4,071,259.50. Following the completion of the sale, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 1,665 shares of the stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the purchase, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. The trade was a 0.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 6,500 shares of company stock worth $100,333 and sold 1,120,850 shares worth $20,462,114. 15.90% of the stock is currently owned by company insiders.

TeraWulf Stock Performance

NASDAQ WULF opened at $26.06 on Monday. The stock has a market capitalization of $12.91 billion, a PE ratio of -10.51 and a beta of 3.82. The business has a 50 day simple moving average of $22.12 and a two-hundred day simple moving average of $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 1-year low of $3.39 and a 1-year high of $27.78.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) EPS. On average, research analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

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.