Park West Asset Management LLC Makes New $10.23 Million Investment in TeraWulf Inc. $WULF

Park West Asset Management LLC acquired a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 414,001 shares of the company’s stock, valued at approximately $10,226,000. Park West Asset Management LLC owned approximately 0.08% of TeraWulf at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. CoreCap Advisors LLC lifted its position in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after acquiring an additional 747 shares during the period. Advisory Services Network LLC acquired a new stake in TeraWulf in the third quarter valued at approximately $29,000. First United Bank & Trust purchased a new stake in TeraWulf in the 1st quarter worth $37,000. Vermillion Wealth Management Inc. raised 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 worth $30,000 after purchasing an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in TeraWulf during the 2nd quarter worth approximately $74,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Price Performance

TeraWulf stock opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of -3.65 and a beta of 3.76. The company’s 50 day simple moving average is $20.03 and its 200-day simple moving average is $19.72. TeraWulf Inc. has a 1 year low of $8.60 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its earnings results 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). 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 during the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target 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. Jefferies Financial Group started coverage on TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target for the company. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a research note on Wednesday, May 27th. Sanford C. Bernstein started coverage on TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Northland Securities set a $30.00 price objective on shares of TeraWulf in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Activity at TeraWulf

In other TeraWulf news, Director Michael C. Bucella acquired 3,023 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the acquisition, the director owned 341,844 shares of the company’s stock, valued at approximately $5,654,099.76. This trade represents a 0.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction that occurred on 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 owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This trade represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company’s stock.

About TeraWulf

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.