Apollon Wealth Management LLC Reduces Holdings in TeraWulf Inc. $WULF

Apollon Wealth Management LLC cut its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 66.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,532 shares of the company’s stock after selling 21,000 shares during the quarter. Apollon Wealth Management LLC’s holdings in TeraWulf were worth $46,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. lifted its holdings in TeraWulf by 17,747.4% during the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company’s stock worth $9,745,000 after buying an additional 3,549,479 shares in the last quarter. Nuveen LLC acquired a new stake in TeraWulf during the 1st quarter worth approximately $1,770,000. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in TeraWulf during the 1st quarter worth approximately $263,000. Quantbot Technologies LP acquired a new stake in TeraWulf during the 1st quarter worth approximately $3,702,000. Finally, Harbour Capital Advisors LLC acquired a new stake in TeraWulf during the 2nd quarter worth approximately $470,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Price Performance

Shares of WULF opened at $13.93 on Monday. TeraWulf Inc. has a 1-year low of $2.06 and a 1-year high of $16.19. The stock has a market cap of $5.68 billion, a PE ratio of -39.80 and a beta of 3.44. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a fifty day moving average price of $10.57 and a 200 day moving average price of $6.25.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $47.64 million during the quarter, compared to analysts’ expectations of $46.30 million. During the same period last year, the firm earned ($0.03) earnings per share. TeraWulf’s revenue was up 33.9% on a year-over-year basis. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of research reports. Wall Street Zen upgraded shares of TeraWulf from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley boosted their target price on shares of TeraWulf from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Cantor Fitzgerald increased their target price on TeraWulf from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. JMP Securities increased their target price on TeraWulf from $7.00 to $13.00 and gave the company a “market outperform” rating in a report on Friday, August 15th. Finally, Rosenblatt Securities increased their target price on TeraWulf from $14.50 to $20.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.25.

Insiders Place Their Bets

In related news, Director Amanda Fabiano sold 4,600 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director directly owned 40,769 shares of the company’s stock, valued at $352,244.16. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.90% of the stock is currently owned by company insiders.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.