Legal & General Group Plc Invests $7.62 Million in TeraWulf Inc. $WULF

Legal & General Group Plc acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 308,522 shares of the company’s stock, valued at approximately $7,620,000.

Other hedge funds have also recently made changes to their positions in the company. CoreCap Advisors LLC raised its position in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the period. Advisory Services Network LLC purchased a new position in shares of TeraWulf during the third quarter worth $29,000. First United Bank & Trust acquired a new stake in shares of TeraWulf in the first quarter valued at $37,000. Vermillion Wealth Management Inc. grew its stake in shares of 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 buying an additional 2,394 shares in the last quarter. Finally, Solstein Capital LLC purchased a new stake in shares of TeraWulf in the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on WULF shares. Compass Point set a $40.00 target price on TeraWulf in a research note on Monday, July 6th. Chardan Capital reiterated a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Sanford C. Bernstein initiated coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.21.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter E. Carter sold 130,626 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 405,626 shares of company stock worth $7,980,928 over the last 90 days. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Stock Up 1.2%

Shares of NASDAQ:WULF opened at $14.82 on Thursday. The company has a market capitalization of $7.39 billion, a PE ratio of -3.39 and a beta of 3.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a twelve month low of $8.60 and a twelve month high of $29.84. The firm has a 50 day simple moving average of $18.72 and a 200-day simple moving average of $19.70.

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

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.