Hodges Capital Management Inc. Has $32.94 Million Stock Holdings in TeraWulf Inc. $WULF

Hodges Capital Management Inc. lessened its position in TeraWulf Inc. (NASDAQ:WULF) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,866,544 shares of the company’s stock after selling 919,169 shares during the quarter. TeraWulf accounts for 2.8% of Hodges Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Hodges Capital Management Inc. owned about 0.68% of TeraWulf worth $32,937,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WULF. Vanguard Group Inc. lifted its holdings 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 worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in TeraWulf during the 3rd quarter valued at about $69,006,000. Wellington Management Group LLP lifted its holdings in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Bank of America Corp DE lifted its holdings in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in TeraWulf during the 3rd quarter valued at about $27,220,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 8.3%

NASDAQ WULF opened at $23.19 on Thursday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of -9.35 and a beta of 3.82. The company’s 50-day simple moving average is $21.67 and its two-hundred day simple moving average is $16.94. TeraWulf Inc. has a one year low of $3.39 and a one year high of $27.78.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS. Equities analysts forecast that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WULF shares. Roth Mkm reiterated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Sanford C. Bernstein started coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 price objective on shares of TeraWulf in a report on Monday, May 11th. Citigroup reiterated a “market outperform” rating on shares of TeraWulf in a report on Thursday, June 4th. Finally, Morgan Stanley set a $66.50 price objective on shares of TeraWulf in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.72.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 1,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director owned 280,052 shares of the company’s stock, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. 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 quarter, insiders have acquired 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company’s stock.

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.