CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires New Stake in TeraWulf Inc. $WULF

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in TeraWulf Inc. (NASDAQ:WULF) during the third quarter, Holdings Channel reports. The fund bought 135,000 shares of the company’s stock, valued at approximately $1,998,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WULF. CoreCap Advisors LLC increased its holdings in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after acquiring an additional 747 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in TeraWulf during the second quarter valued at approximately $41,000. Solstein Capital LLC bought a new stake in TeraWulf in the 2nd quarter worth approximately $74,000. Summit Securities Group LLC bought a new stake in TeraWulf in the 1st quarter worth approximately $48,000. Finally, GAMMA Investing LLC raised its stake in TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock valued at $84,000 after buying an additional 681 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WULF. William Blair started coverage on TeraWulf in a report on Friday, August 28th. They issued an “outperform” rating on the stock. Wells Fargo & Company initiated coverage on TeraWulf in a research note on Thursday, September 17th. They set an “overweight” rating and a $30.00 price target for the company. Rothschild & Co Redburn assumed coverage on shares of TeraWulf in a research report on Monday, September 21st. They set a “neutral” rating and a $15.00 price target for the company. Freedom Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, September 8th. Finally, UBS Group assumed coverage on shares of TeraWulf in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.52.

TeraWulf Stock Up 5.8%

WULF stock opened at $11.98 on Tuesday. TeraWulf Inc. has a twelve month low of $10.35 and a twelve month high of $29.84. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market cap of $5.98 billion, a P/E ratio of -2.74 and a beta of 3.80. The business’s 50-day moving average price is $14.97 and its 200-day moving average price is $18.02.

TeraWulf (NASDAQ:WULF) last announced 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 company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, equities research analysts forecast that TeraWulf Inc. will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael Bucella purchased 6,085 shares of the stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director directly owned 350,789 shares of the company’s stock, valued at $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction that occurred 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 owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. The trade was a 3.49% 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. In the last 90 days, insiders have bought 11,968 shares of company stock worth $189,962. Company insiders own 15.90% of the company’s stock.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.