54,100 Shares in TeraWulf Inc. $WULF Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,100 shares of the company’s stock, valued at approximately $1,336,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of TeraWulf in the second quarter valued at approximately $577,805,000. California State Teachers Retirement System increased its holdings in shares of TeraWulf by 2,931.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after acquiring an additional 10,503,051 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at $69,006,000. Bank of America Corp DE purchased a new stake in TeraWulf in the 2nd quarter valued at $140,057,000. Finally, Wellington Management Group LLP boosted its stake in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Up 3.7%

WULF opened at $16.74 on Friday. 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 Inc. has a 12 month low of $10.04 and a 12 month high of $29.84. The stock has a market capitalization of $8.35 billion, a P/E ratio of -3.83 and a beta of 3.70. The business has a 50 day simple moving average of $17.70 and a 200-day simple moving average of $19.72.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate 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 company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on WULF shares. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Zacks Research raised TeraWulf from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of TeraWulf in a research report on Friday, August 21st. Citigroup began coverage on TeraWulf in a research note on Monday, June 29th. They set a “buy” rating and a $36.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Three 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.21.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the sale, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 2,860 shares of the company’s stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $17.47 per share, with a total value of $49,964.20. Following the completion of the acquisition, the director directly owned 344,704 shares in the company, valued at $6,021,978.88. This represents a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 405,626 shares of company stock valued at $7,980,928 in the last quarter. 15.90% of the stock is currently owned by corporate insiders.

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.