Geode Capital Management LLC Has $96.27 Million Stock Position in TeraWulf Inc. $WULF

Geode Capital Management LLC increased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,377,589 shares of the company’s stock after purchasing an additional 318,842 shares during the quarter. Geode Capital Management LLC’s holdings in TeraWulf were worth $96,274,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of TeraWulf by 37.4% during 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. Oppenheimer & Co. Inc. grew its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after acquiring an additional 96,843 shares during the last quarter. First Dallas Securities Inc. grew its holdings in TeraWulf by 99.2% during the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock worth $3,015,000 after acquiring an additional 131,500 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in TeraWulf during the 3rd quarter worth about $3,350,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Ratings Changes

WULF has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their price objective on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Morgan Stanley set a $66.50 price objective on shares of TeraWulf in a report on Wednesday. Roth Mkm reissued a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Jefferies Financial Group initiated coverage on shares of TeraWulf in a report on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Northland Securities set a $30.00 price objective on shares of TeraWulf in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.72.

TeraWulf Stock Down 8.4%

Shares of NASDAQ WULF opened at $24.00 on Friday. The firm has a market capitalization of $11.89 billion, a PE ratio of -9.68 and a beta of 3.82. 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 Inc. has a 1 year low of $3.39 and a 1 year high of $27.47. The firm’s 50-day moving average is $21.07 and its 200-day moving average is $16.63.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The business had revenue of $34.01 million during 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 firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted ($0.16) EPS. Equities analysts expect that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Activity

In other news, CFO Patrick Fleury sold 573,586 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the transaction, the chief financial officer owned 3,205,000 shares of the company’s stock, valued at approximately $51,728,700. This trade represents a 15.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% 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. In the last quarter, insiders have acquired 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. 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.