Lazard Asset Management LLC Has $2 Million Position in TeraWulf Inc. $WULF

Lazard Asset Management LLC cut its position in TeraWulf Inc. (NASDAQ:WULF) by 58.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 138,750 shares of the company’s stock after selling 196,437 shares during the quarter. Lazard Asset Management LLC’s holdings in TeraWulf were worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 buying an additional 9,162,958 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after buying an additional 43,574 shares in the last quarter. Pictet Asset Management Holding SA grew its position in TeraWulf by 178.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after acquiring an additional 96,843 shares during the last quarter. Jennison Associates LLC bought a new position in TeraWulf in the first quarter valued at about $53,418,000. Finally, Troluce Capital Advisors LLC acquired a new position in TeraWulf during the first quarter worth about $33,189,000. Institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WULF shares. Sanford C. Bernstein started coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price for the company. Roth Capital reaffirmed a “buy” rating and set a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Needham & Company LLC upped their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods dropped their price objective on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Finally, Zacks Research lowered shares of TeraWulf from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, TeraWulf has an average rating of “Moderate Buy” and a consensus price target of $34.29.

TeraWulf Price Performance

TeraWulf stock opened at $17.66 on Monday. The stock has a 50-day moving average price of $23.27 and a two-hundred day moving average price of $19.34. TeraWulf Inc. has a 12 month low of $4.64 and a 12 month high of $29.84. The company has a market capitalization of $8.75 billion, a PE ratio of -7.12 and a beta of 3.76. 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 released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same quarter last year, the firm posted ($0.16) earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that TeraWulf Inc. will post -1.06 EPS for the current year.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

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.