Ninepoint Partners LP Invests $847,000 in TeraWulf Inc. $WULF

Ninepoint Partners LP acquired a new position in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,306 shares of the company’s stock, valued at approximately $847,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CoreCap Advisors LLC boosted its holdings in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after acquiring an additional 747 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of TeraWulf in the 3rd quarter worth $29,000. First United Bank & Trust bought a new stake in shares of TeraWulf in the first quarter worth $37,000. Vermillion Wealth Management Inc. increased its position in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC bought a new position in TeraWulf in the fourth quarter valued at about $34,000. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Performance

Shares of WULF opened at $16.45 on Friday. The business has a 50-day simple moving average of $20.97 and a two-hundred day simple moving average of $19.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of -3.76 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data 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%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. On average, analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of TeraWulf in a research note on Thursday, August 6th. B. Riley Financial increased their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Citigroup began coverage on shares of TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Finally, Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Insider Activity at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the sale, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 3,023 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased 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 in the company, valued at approximately $5,654,099.76. This trade represents a 0.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 15.90% of the stock is owned by insiders.

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.