Galaxy Digital Capital Management GP LLC Takes Position in TeraWulf Inc. $WULF

Galaxy Digital Capital Management GP LLC acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,373 shares of the company’s stock, valued at approximately $1,337,000. TeraWulf accounts for approximately 1.4% of Galaxy Digital Capital Management GP LLC’s holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also bought and sold shares of WULF. Comerica Bank lifted its holdings in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares during the period. Millennium Management LLC grew its holdings in TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after acquiring an additional 793,832 shares during the period. Envestnet Asset Management Inc. grew its holdings in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after acquiring an additional 2,258 shares during the period. Creative Planning grew its holdings in TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock worth $209,000 after acquiring an additional 33,317 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of TeraWulf by 10.6% in the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after acquiring an additional 5,432 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 520,850 shares of company stock worth $10,778,114. 15.90% of the stock is currently owned by corporate insiders.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $28.98 on Friday. The firm’s 50-day moving average price is $23.37 and its 200-day moving average price is $17.59. TeraWulf Inc. has a 1-year low of $3.39 and a 1-year high of $29.67. The firm has a market capitalization of $14.36 billion, a P/E ratio of -11.69 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 (NASDAQ:WULF) last issued its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts anticipate that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WULF. Jefferies Financial Group initiated coverage on TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Northland Securities set a $30.00 target price on TeraWulf in a report on Monday, May 4th. Cantor Fitzgerald boosted their price target on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Bank of America started coverage on TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.86.

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.