76,432 Shares in TeraWulf Inc. $WULF Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new stake in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 76,432 shares of the company’s stock, valued at approximately $1,888,000.

Several other hedge funds also recently made changes to their positions in the business. Advisory Services Network LLC bought a new stake in shares of TeraWulf in the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. lifted its position in shares of TeraWulf by 1,191.0% during the 4th 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 period. Solstein Capital LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth $34,000. Comerica Bank increased its position in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC raised its stake in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 target price on shares of TeraWulf in a report on Wednesday, July 15th. HC Wainwright reiterated a “buy” rating on shares of TeraWulf in a research report on Friday. Keefe, Bruyette & Woods decreased their price objective on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Sanford C. Bernstein began coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Finally, Morgan Stanley reduced their target price on TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Price Performance

TeraWulf stock opened at $15.48 on Tuesday. The stock’s 50 day moving average is $20.50 and its 200 day moving average is $19.67. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84. The firm has a market cap of $7.72 billion, a P/E ratio of -3.54 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF) last released 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). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same period in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 3,023 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $16.54 per share, for a total transaction of $50,000.42. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value 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 represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.