Engineers Gate Manager LP Has $8.19 Million Stock Holdings in TeraWulf Inc. $WULF

Engineers Gate Manager LP lessened its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 57.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 331,395 shares of the company’s stock after selling 441,876 shares during the period. Engineers Gate Manager LP’s holdings in TeraWulf were worth $8,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WULF. GAMMA Investing LLC lifted its holdings in TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock valued at $84,000 after purchasing an additional 681 shares during the last quarter. CoreCap Advisors LLC grew its stake in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after buying an additional 747 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after buying an additional 1,259 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock worth $142,000 after buying an additional 1,563 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of TeraWulf in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Price Performance

WULF opened at $16.14 on Friday. TeraWulf Inc. has a one year low of $10.04 and a one year high of $29.84. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $19.74. The stock has a market capitalization of $8.05 billion, a P/E ratio of -3.69 and a beta of 3.70.

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 the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company 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 firm earned ($0.05) EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Sell-side analysts anticipate that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Bucella bought 2,860 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the transaction, the director directly owned 344,704 shares in the company, valued at $6,021,978.88. The trade was a 0.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Walter Carter sold 130,626 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares in the company, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 405,626 shares of company stock valued at $7,980,928. Company insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WULF. Bank of America started coverage on TeraWulf in a report on Monday, June 15th. They issued a “buy” rating and a $34.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Zacks Research raised TeraWulf from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Needham & Company LLC increased their target price on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Company Profile

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.