WINTON GROUP Ltd Makes New Investment in TeraWulf Inc. $WULF

WINTON GROUP Ltd purchased a new stake in TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, HoldingsChannel reports. The firm purchased 224,707 shares of the company’s stock, valued at approximately $5,550,000.

A number of other hedge funds have also added to or reduced their stakes in WULF. Advisory Services Network LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at about $29,000. Vermillion Wealth Management Inc. raised its stake in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new position in TeraWulf in the fourth quarter worth about $34,000. 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 worth $35,000 after buying an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC lifted its holdings in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after buying an additional 747 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Trading Down 5.8%

NASDAQ WULF opened at $16.14 on Friday. TeraWulf Inc. has a 12 month low of $10.04 and a 12 month high of $29.84. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock’s fifty day moving average price is $17.79 and its 200-day moving average price is $19.74. The stock has a market cap of $8.05 billion, a P/E ratio of -3.69 and a beta of 3.70.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results 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 company had revenue of $44.77 million during 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%.TeraWulf’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, equities analysts forecast that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other news, Director Walter E. Carter sold 130,626 shares of the stock in a transaction that occurred 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 owned 229,090 shares in the company, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 405,626 shares of company stock worth $7,980,928. 15.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WULF. Zacks Research upgraded TeraWulf from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup started coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective for the company. B. Riley Financial boosted their target price on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods reduced their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Freedom Capmkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.21.

About TeraWulf

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.