Federated Hermes Inc. Acquires Shares of 69,404 TeraWulf Inc. $WULF

Federated Hermes Inc. bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 69,404 shares of the company’s stock, valued at approximately $793,000.

Several other institutional investors have also modified their holdings of WULF. First Dallas Securities Inc. raised its position in shares of TeraWulf by 126.5% in the 2nd quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock valued at $580,000 after purchasing an additional 74,000 shares in the last quarter. Thames Capital Management LLC bought a new stake in shares of TeraWulf in the second quarter worth $4,970,000. Two Seas Capital LP increased its stake in shares of TeraWulf by 966.9% in the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after buying an additional 2,072,729 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in TeraWulf by 27.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock valued at $17,221,000 after acquiring an additional 325,148 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in TeraWulf by 420.6% during the 3rd quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock valued at $4,291,000 after acquiring an additional 303,583 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WULF. Citizens Jmp boosted their target price on shares of TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Compass Point set a $17.00 price target on TeraWulf and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Northland Securities set a $23.25 price objective on TeraWulf in a report on Wednesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $24.00 target price on shares of TeraWulf in a report on Tuesday, November 11th. Finally, Oppenheimer assumed coverage on TeraWulf in a research report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.15.

TeraWulf Stock Up 19.9%

NASDAQ:WULF opened at $14.29 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. The stock has a 50 day moving average of $13.47 and a 200-day moving average of $11.67. The firm has a market capitalization of $5.98 billion, a PE ratio of -10.06 and a beta of 3.69. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $17.05.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The company had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. The business’s quarterly revenue was up 86.9% on a year-over-year basis. Analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Insider Activity at TeraWulf

In other news, Director Michael C. Bucella acquired 4,178 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $12.01 per share, with a total value of $50,177.78. Following the acquisition, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.90% of the company’s stock.

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.