Dockside LLC Makes New $1.43 Million Investment in TeraWulf Inc. $WULF

Dockside LLC purchased a new stake in TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 57,774 shares of the company’s stock, valued at approximately $1,427,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after purchasing an additional 681 shares during the period. CoreCap Advisors LLC raised its position in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the period. R Squared Ltd raised its position in TeraWulf by 5.0% in the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock valued at $255,000 after purchasing an additional 1,056 shares during the period. Franklin Resources Inc. lifted its stake in shares of TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after purchasing an additional 1,259 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock worth $142,000 after purchasing an additional 1,563 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Up 6.6%

Shares of NASDAQ:WULF opened at $17.38 on Friday. The firm has a market cap of $8.67 billion, a PE ratio of -3.98 and a beta of 3.76. The company has a fifty day simple moving average of $21.66 and a 200 day simple moving average of $19.56. The company has a current ratio of 0.75, a quick ratio of 1.20 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12-month low of $8.14 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.TeraWulf’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, equities research analysts anticipate that TeraWulf Inc. will post -1 EPS for the current fiscal year.

Insider Activity at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WULF. Needham & Company LLC increased their target price on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research report on Wednesday, July 15th. Citigroup began coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target for the company. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.21.

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.