Jupiter Topco LLC Invests $4.21 Million in TeraWulf Inc. $WULF

Jupiter Topco LLC acquired a new position in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 170,532 shares of the company’s stock, valued at approximately $4,210,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WULF. Vanguard Group Inc. lifted 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 worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. BlackRock Inc. bought a new position in TeraWulf in the 2nd quarter worth approximately $577,805,000. Bank of America Corp DE grew its holdings in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares in the last quarter. Morgan Stanley grew its holdings in TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after buying an additional 724,286 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after buying an additional 318,842 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

NASDAQ WULF opened at $14.65 on Wednesday. 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 1-year low of $8.60 and a 1-year high of $29.84. The business has a 50 day simple moving average of $18.96 and a two-hundred day simple moving average of $19.70. The stock has a market capitalization of $7.31 billion, a PE ratio of -3.35 and a beta of 3.71.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, research analysts predict that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella purchased 2,860 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $17.47 per share, with a total value of $49,964.20. Following the completion of the purchase, the director directly owned 344,704 shares in the company, valued at $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the sale, the director directly owned 229,090 shares in the company, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 405,626 shares of company stock worth $7,980,928. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on WULF shares. Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price on the stock. Bank of America assumed coverage on shares of TeraWulf in a research note on Monday, June 15th. They set a “buy” rating and a $34.00 target price for the company. Zacks Research upgraded shares of TeraWulf from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Finally, Sanford C. Bernstein began coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

TeraWulf 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.