Ranger Investment Management L.P. Purchases Shares of 838,560 TeraWulf Inc. $WULF

Ranger Investment Management L.P. purchased a new stake in TeraWulf Inc. (NASDAQ:WULF) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 838,560 shares of the company’s stock, valued at approximately $20,712,000.

A number of other large investors have also bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. raised its stake in TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at approximately $34,000. Comerica Bank increased its position in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after buying an additional 747 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WULF. Bank of America initiated coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price target for the company. Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. Jefferies Financial Group started coverage on shares of TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price for the company. Chardan Capital restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research report on Wednesday, August 5th. Finally, Needham & Company LLC upped their target price on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $15.64 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The firm’s 50-day moving average price is $20.76 and its two-hundred day moving average price is $19.67. TeraWulf Inc. has a 52-week low of $8.60 and a 52-week high of $29.84. The stock has a market capitalization of $7.80 billion, a P/E ratio of -3.58 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 1,179.94% and a negative return on equity of 458.62%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Insider Activity

In related news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This represents a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 2,860 shares of the business’s stock in a transaction on Monday, August 17th. The shares were acquired at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the purchase, the director directly owned 344,704 shares in the company, valued at $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 15.90% of the company’s stock.

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.