BlueCrest Capital Management Ltd Invests $11.95 Million in TeraWulf Inc. $WULF

BlueCrest Capital Management Ltd bought a new position in TeraWulf Inc. (NASDAQ:WULF) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 483,594 shares of the company’s stock, valued at approximately $11,945,000.

Other large investors have also added to or reduced their stakes in the company. Engle Capital Management L.P. lifted its holdings in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after purchasing an additional 2,512,600 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in TeraWulf during the second quarter worth $3,534,000. Jennison Associates LLC bought a new stake in TeraWulf during the first quarter worth $53,418,000. Troluce Capital Advisors LLC purchased a new stake in TeraWulf in the 1st quarter valued at $33,189,000. Finally, GeoSphere Capital Management LLC purchased a new stake in TeraWulf in the 4th quarter valued at $2,872,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $17.13 on Thursday. The business’s fifty day simple moving average is $17.89 and its 200 day simple moving average is $19.73. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12 month low of $10.04 and a 12 month high of $29.84. The firm has a market capitalization of $8.55 billion, a P/E ratio of -3.92 and a beta of 3.70.

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). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the company 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, analysts anticipate that TeraWulf Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Walter E. Carter sold 130,626 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares in the company, valued at approximately $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael C. Bucella acquired 3,023 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the transaction, 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 SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 405,626 shares of company stock valued at $7,980,928. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

WULF has been the topic of several recent analyst reports. Chardan Capital restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research note on Wednesday, August 5th. Needham & Company LLC upped their target price on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of TeraWulf in a report on Friday, August 21st. HC Wainwright reissued a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Finally, B. Riley Financial boosted their price target on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf has a consensus rating of “Moderate Buy” and an average price target of $34.21.

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.