Great Lakes Advisors LLC Takes $2.48 Million Position in TeraWulf Inc. $WULF

Great Lakes Advisors LLC purchased a new stake in TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,260 shares of the company’s stock, valued at approximately $2,476,000.

Several other hedge funds have also bought and sold shares of WULF. Vanguard Group Inc. raised its holdings in shares of TeraWulf by 37.4% in the fourth 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 last quarter. Engle Capital Management L.P. grew its position in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in 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 buying an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after buying an additional 96,843 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of TeraWulf in the 1st quarter worth approximately $53,418,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Chardan Capital reaffirmed a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research report on Wednesday, August 5th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a research note on Friday. Citigroup started coverage on TeraWulf in a research report on Monday, June 29th. They set a “buy” rating and a $36.00 target price for the company. Needham & Company LLC lifted their target price on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley cut their price target on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Activity

In related news, Director Michael C. Bucella purchased 2,860 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the transaction, the director directly owned 344,704 shares in the company, valued at approximately $6,021,978.88. This represents a 0.84% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Trading Down 4.9%

NASDAQ:WULF opened at $15.64 on Friday. TeraWulf Inc. has a 1 year low of $8.60 and a 1 year high of $29.84. The stock’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $19.62. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $7.80 billion, a P/E ratio of -3.58 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

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.