Financial Enhancement Group LLC Takes $1.14 Million Position in TeraWulf Inc. $WULF

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in TeraWulf in the third quarter worth approximately $69,006,000. Wellington Management Group LLP increased its holdings in shares of TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of TeraWulf by 574.2% in the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of TeraWulf by 22.2% during 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 acquiring an additional 2,617,617 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Trading Down 6.5%

TeraWulf stock opened at $26.90 on Thursday. TeraWulf Inc. has a 52 week low of $3.70 and a 52 week high of $29.84. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of -10.85 and a beta of 3.82. The company has a 50 day moving average price of $23.90 and a 200 day moving average price of $17.89.

TeraWulf (NASDAQ:WULF) last announced its earnings results 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). The firm had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. Research analysts forecast that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of the company’s 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 of the company’s stock, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 383,350 shares of company stock worth $8,564,364 in the last quarter. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $66.50 price objective on TeraWulf in a research note on Wednesday, June 3rd. Northland Securities set a $30.00 target price on TeraWulf in a report on Monday, May 4th. Needham & Company LLC increased their price target on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a research note on Wednesday, May 27th. Finally, Roth Mkm restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.86.

About TeraWulf

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.