Engle Capital Management L.P. Acquires Shares of 437,500 TeraWulf Inc. $WULF

Engle Capital Management L.P. acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 437,500 shares of the company’s stock, valued at approximately $5,027,000. TeraWulf accounts for 1.9% of Engle Capital Management L.P.’s portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of TeraWulf by 45.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after purchasing an additional 43,574 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of TeraWulf by 178.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after purchasing an additional 96,843 shares during the period. Quantbot Technologies LP acquired a new position in shares of TeraWulf in the 3rd quarter valued at $3,350,000. Finally, GSA Capital Partners LLP acquired a new position in shares of TeraWulf in the 3rd quarter valued at $885,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Performance

NASDAQ:WULF opened at $27.86 on Thursday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The company has a fifty day moving average of $22.90 and a two-hundred day moving average of $17.42. The stock has a market capitalization of $13.81 billion, a PE ratio of -11.23 and a beta of 3.82. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $29.30.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, research analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WULF. Needham & Company LLC boosted their target price on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Sanford C. Bernstein began coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price for the company. Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 target price on shares of TeraWulf in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group began coverage on shares of TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.86.

Insiders Place Their Bets

In related news, Director Michael C. Bucella acquired 1,665 shares of TeraWulf stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares of the company’s stock, valued at approximately $4,211,982.08. The trade was a 0.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul B. Prager sold 166,650 shares of the company’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 transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock valued at $10,778,114 over the last 90 days. 15.90% of the stock is currently owned by company 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.