Park West Asset Management LLC Makes New Investment in TeraWulf Inc. $WULF

Park West Asset Management LLC bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 414,001 shares of the company’s stock, valued at approximately $10,226,000.

Several other hedge funds have also recently bought and sold shares of WULF. Advisory Services Network LLC purchased a new position in shares of TeraWulf in the third quarter valued at $29,000. Vermillion Wealth Management Inc. grew its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth $34,000. Comerica Bank increased its stake in 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 during the last quarter. Finally, CoreCap Advisors LLC increased its position in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Down 2.1%

WULF stock opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf Inc. has a 12 month low of $8.60 and a 12 month high of $29.84. The firm has a market cap of $7.97 billion, a PE ratio of -3.65 and a beta of 3.76. The firm has a 50 day simple moving average of $20.03 and a 200 day simple moving average of $19.72.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 company had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the prior year, the business posted ($0.05) EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on WULF. Jefferies Financial Group initiated coverage on TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective on the stock. Morgan Stanley cut their target price on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Bank of America started coverage on TeraWulf in a research note on Monday, June 15th. They set a “buy” rating and a $34.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Finally, B. Riley Financial increased their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Insiders Place Their Bets

In related news, Director Michael C. Bucella bought 3,023 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $16.54 per share, for a total transaction of $50,000.42. Following the transaction, the director directly owned 341,844 shares in the company, valued at $5,654,099.76. This represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on 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 directly owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.