Feynman Point Asset Management LLC Sells 110,800 Shares of TeraWulf Inc. $WULF

Feynman Point Asset Management LLC lessened its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 66.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,161 shares of the company’s stock after selling 110,800 shares during the period. TeraWulf comprises about 1.0% of Feynman Point Asset Management LLC’s holdings, making the stock its 16th biggest position. Feynman Point Asset Management LLC’s holdings in TeraWulf were worth $825,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in TeraWulf in the third quarter valued at about $29,000. Vermillion Wealth Management Inc. increased its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares during the last quarter. Solstein Capital LLC purchased a new stake in shares of TeraWulf during the 4th quarter worth approximately $34,000. Comerica Bank raised its holdings in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the period. Finally, First United Bank & Trust bought a new stake in shares of TeraWulf in the 1st quarter worth approximately $37,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 4.9%

Shares of TeraWulf stock opened at $17.09 on Wednesday. The company’s 50-day moving average price is $23.61 and its 200-day moving average price is $19.27. 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 Inc. has a 12-month low of $4.64 and a 12-month high of $29.84. The company has a market cap of $8.47 billion, a price-to-earnings ratio of -6.89 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) 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 analysts’ expectations 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 was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. On average, equities analysts expect that TeraWulf Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $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 is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WULF shares. Citigroup began coverage on TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective on the stock. Jefferies Financial Group started coverage on TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

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.