Jennison Associates LLC Purchases Shares of 3,701,895 TeraWulf Inc. $WULF

Jennison Associates LLC purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,701,895 shares of the company’s stock, valued at approximately $53,418,000.

A number of other hedge funds have also recently made changes to their positions in the business. Kraematon Investment Advisors Inc. boosted its stake in shares of TeraWulf by 2.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock valued at $488,000 after purchasing an additional 952 shares in the last quarter. R Squared Ltd lifted its stake in TeraWulf by 5.0% in the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after purchasing an additional 1,056 shares during the last quarter. Franklin Resources Inc. lifted its stake in TeraWulf by 2.0% in 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 during the last quarter. IFP Advisors Inc boosted its position in TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock valued at $142,000 after buying an additional 1,563 shares during the period. Finally, Xponance LLC boosted its position in TeraWulf by 7.7% during the fourth quarter. Xponance LLC now owns 23,928 shares of the company’s stock valued at $275,000 after buying an additional 1,713 shares during the period. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WULF shares. Sanford C. Bernstein started coverage on TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective on the stock. Roth Capital restated a “buy” rating and set a $32.00 target price on shares of TeraWulf in a report on Friday, April 17th. Bank of America began coverage on TeraWulf in a research report on Monday, June 15th. They set a “buy” rating and a $34.00 price target on the stock. Citigroup initiated coverage on TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was 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 in the company, valued at $103,808,004.86. The trade was 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. In the last quarter, insiders sold 520,850 shares of company stock worth $12,221,864. 15.90% of the stock is owned by insiders.

TeraWulf Price Performance

WULF stock opened at $18.16 on Monday. The firm’s 50-day moving average price is $24.14 and its two-hundred day moving average price is $18.94. TeraWulf Inc. has a 12-month low of $4.64 and a 12-month high of $29.84. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of -7.32 and a beta of 3.73. 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 (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 the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. As a group, equities analysts predict that TeraWulf Inc. will post -1.09 earnings per share for the current 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.