UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in TeraWulf Inc. $WULF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 54.7% in the 2nd quarter, Holdings Channel reports. The fund owned 753,721 shares of the company’s stock after buying an additional 266,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in TeraWulf were worth $18,617,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WULF. Advisory Services Network LLC purchased a new position in shares of TeraWulf in the third quarter worth about $29,000. Vermillion Wealth Management Inc. lifted its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after buying an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new position in TeraWulf in the 4th quarter worth approximately $34,000. Comerica Bank grew its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after acquiring an additional 747 shares during the period. 62.49% of the stock is currently owned by institutional investors.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Walter E. Carter sold 130,626 shares of TeraWulf stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares in the company, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares in the company, valued at $64,956,837.12. The trade was a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 405,626 shares of company stock valued at $7,980,928. 15.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WULF. William Blair assumed coverage on TeraWulf in a research report on Friday, August 28th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Chardan Capital reissued a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a report on Wednesday, August 5th. Bank of America started coverage on TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average price target of $34.21.

TeraWulf Trading Up 1.7%

Shares of WULF stock opened at $16.51 on Friday. The company has a market capitalization of $8.24 billion, a PE ratio of -3.78 and a beta of 3.70. TeraWulf Inc. has a 52-week low of $8.70 and a 52-week high of $29.84. The business’s fifty day moving average is $18.34 and its 200 day moving average is $19.67. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.TeraWulf’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities research analysts anticipate that TeraWulf Inc. will post -0.95 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.