TeraWulf Inc. $WULF Stock Position Lessened by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its position in TeraWulf Inc. (NASDAQ:WULF) by 24.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,866,544 shares of the company’s stock after selling 919,169 shares during the quarter. TeraWulf comprises approximately 2.8% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Hodges Capital Management Inc.’s holdings in TeraWulf were worth $32,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after buying an additional 9,162,958 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after purchasing an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA grew its position in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after purchasing an additional 96,843 shares during the last quarter. Quantbot Technologies LP purchased a new stake in TeraWulf during the 3rd quarter worth approximately $3,350,000. Finally, GSA Capital Partners LLP purchased a new stake in TeraWulf during the 3rd quarter worth approximately $885,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $23.19 on Thursday. 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 $3.39 and a 12 month high of $27.78. The company has a 50 day simple moving average of $21.67 and a two-hundred day simple moving average of $16.94. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of -9.35 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last announced 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). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 1,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the completion of the purchase, the director owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 6,500 shares of company stock worth $100,333 and sold 1,120,850 shares worth $20,462,114. Company insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WULF shares. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research report on Thursday, June 4th. Cantor Fitzgerald boosted their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Rosenblatt Securities reissued a “buy” rating and set a $27.00 target price on shares of TeraWulf in a research report on Monday, May 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $35.00 target price on shares of TeraWulf in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and a consensus price target of $31.72.

TeraWulf Company Profile

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.