Ninepoint Partners LP Buys New Holdings in TeraWulf Inc. $WULF

Ninepoint Partners LP purchased a new position in TeraWulf Inc. (NASDAQ:WULF) during the second quarter, HoldingsChannel reports. The fund purchased 34,306 shares of the company’s stock, valued at approximately $847,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 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 buying an additional 9,162,958 shares during the last quarter. Engle Capital Management L.P. boosted its position in shares of TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after acquiring an additional 2,512,600 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of TeraWulf by 45.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in TeraWulf by 178.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after acquiring an additional 96,843 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in TeraWulf during the first quarter valued at $53,418,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WULF shares. Northland Securities set a $30.00 price target on shares of TeraWulf in a research note on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research report on Wednesday, August 5th. Finally, Compass Point set a $40.00 price target on TeraWulf in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Michael C. Bucella purchased 3,023 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $16.54 per share, with a total value of $50,000.42. Following the acquisition, the director owned 341,844 shares in the company, valued at approximately $5,654,099.76. The trade was a 0.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by company insiders.

TeraWulf Trading Up 6.1%

Shares of WULF opened at $16.45 on Friday. The stock has a market capitalization of $8.21 billion, a PE ratio of -3.76 and a beta of 3.76. The company’s fifty day moving average is $20.97 and its 200 day moving average is $19.65. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts expect that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

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.