Zweig DiMenna Associates LLC Lowers Stock Holdings in TeraWulf Inc. $WULF

Zweig DiMenna Associates LLC trimmed its position in TeraWulf Inc. (NASDAQ:WULF) by 64.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 667,830 shares of the company’s stock after selling 1,210,120 shares during the period. TeraWulf comprises about 1.3% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 27th largest holding. Zweig DiMenna Associates LLC’s holdings in TeraWulf were worth $9,637,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in TeraWulf by 37.4% in the 4th 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 valued at $69,006,000. Wellington Management Group LLP boosted its stake in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares during the period. Marshall Wace LLP grew its stake in shares of TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after purchasing an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after purchasing an additional 2,617,617 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of TeraWulf from $66.50 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Arete Research assumed coverage on TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Roth Capital restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.25.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $19.41 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $29.84. The business has a 50 day moving average price of $24.49 and a two-hundred day moving average price of $18.80. The firm has a market cap of $9.62 billion, a PE ratio of -7.83 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) EPS. Sell-side analysts expect that TeraWulf Inc. will post -1.09 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.