Sona Asset Management US LLC Has $7.66 Million Stock Holdings in TeraWulf Inc. $WULF

Sona Asset Management US LLC boosted its position in TeraWulf Inc. (NASDAQ:WULF) by 324.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531,000 shares of the company’s stock after buying an additional 406,000 shares during the period. Sona Asset Management US LLC’s holdings in TeraWulf were worth $7,662,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of TeraWulf by 45.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after purchasing an additional 43,574 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings 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 worth $1,735,000 after purchasing an additional 96,843 shares in the last quarter. Jennison Associates LLC acquired a new stake in TeraWulf in the 1st quarter valued at $53,418,000. Finally, GeoSphere Capital Management LLC acquired a new stake in TeraWulf in the 4th quarter valued at $2,872,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Performance

NASDAQ WULF opened at $18.46 on Monday. The company has a fifty day moving average price of $23.76 and a 200-day moving average price of $19.20. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of -7.44 and a beta of 3.73. 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 $4.64 and a 1 year high of $29.84.

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 analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that TeraWulf Inc. will post -1.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. B. Riley Financial upped their price objective on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Roth Capital reissued a “buy” rating and set a $32.00 target price on shares of TeraWulf in a research report on Friday, April 17th. Northland Securities set a $30.00 target price on shares of TeraWulf in a report on Monday, May 4th. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and a consensus target price of $34.46.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the transaction, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 383,350 shares of company stock valued at $9,361,864. Company insiders own 15.90% 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.