78,803 Shares in TeraWulf Inc. $WULF Bought by Financial Enhancement Group LLC

Financial Enhancement Group LLC bought a new position in TeraWulf Inc. (NASDAQ:WULF) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 78,803 shares of the company’s stock, valued at approximately $1,137,000.

A number of other hedge funds also recently added to or reduced their stakes in WULF. Vanguard Group Inc. grew its position in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Bank of America Corp DE lifted its position in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley lifted its position in TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC boosted its stake in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after purchasing an additional 318,842 shares during the period. Finally, State Street Corp boosted its stake in TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after purchasing an additional 298,645 shares during the period. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WULF has been the subject of several recent analyst reports. Cantor Fitzgerald upped their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Jefferies Financial Group initiated coverage on TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective for the company. Arete Research assumed coverage on TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Needham & Company LLC raised their target price on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and a consensus price target of $31.86.

Insider Activity

In other news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 383,350 shares of company stock worth $8,564,364. 15.90% of the stock is currently owned by company insiders.

TeraWulf Stock Down 6.5%

WULF stock opened at $26.90 on Thursday. The firm’s 50-day moving average is $23.90 and its two-hundred day moving average is $17.89. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of -10.85 and a beta of 3.82. TeraWulf Inc. has a 52 week low of $3.70 and a 52 week high of $29.84. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same quarter last year, the business earned ($0.16) earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

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.