Man Group plc Buys New Shares in TeraWulf Inc. $WULF

Man Group plc purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 476,606 shares of the company’s stock, valued at approximately $11,772,000. Man Group plc owned approximately 0.10% of TeraWulf as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted 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 in the last quarter. BlackRock Inc. bought a new position in shares of TeraWulf during the second quarter valued at approximately $577,805,000. Bank of America Corp DE lifted its position in shares of TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after purchasing an additional 2,617,617 shares during the period. Morgan Stanley lifted its holdings in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after buying an additional 724,286 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WULF has been the topic of several research reports. Northland Securities set a $30.00 price target on TeraWulf in a research report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. Needham & Company LLC raised their price objective on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group initiated coverage on TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the firm’s 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 sale, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal 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. Also, Director Michael C. Bucella acquired 3,023 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the transaction, the director directly owned 341,844 shares of the company’s stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF opened at $16.49 on Friday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -3.77 and a beta of 3.76. The business’s fifty day simple moving average is $19.78 and its two-hundred day simple moving average is $19.73. TeraWulf Inc. has a 12 month low of $8.60 and a 12 month high of $29.84. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. TeraWulf’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Research analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share 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.