Y Intercept Hong Kong Ltd Takes $2.05 Million Position in TeraWulf Inc. $WULF

Y Intercept Hong Kong Ltd acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 179,272 shares of the company’s stock, valued at approximately $2,047,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC lifted its stake in TeraWulf by 12.4% in the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after acquiring an additional 1,250 shares during the last quarter. Sei Investments Co. raised its holdings in shares of TeraWulf by 5.2% in the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock valued at $164,000 after purchasing an additional 1,869 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 purchasing an additional 2,258 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after purchasing an additional 2,748 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of TeraWulf by 5.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company’s stock worth $261,000 after purchasing an additional 2,905 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Transactions at TeraWulf

In related news, Director Michael C. Bucella acquired 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $12.01 per share, with a total value of $50,177.78. Following the purchase, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.90% of the stock is owned by company insiders.

TeraWulf Trading Down 1.3%

WULF opened at $15.11 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $17.05. The business’s 50 day moving average is $13.44 and its two-hundred day moving average is $11.29. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of -10.64 and a beta of 3.69.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). The business had revenue of $50.58 million for the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business’s revenue was up 86.9% compared to the same quarter last year. On average, research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WULF shares. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. Citizens Jmp boosted their target price on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of TeraWulf in a report on Tuesday, November 11th. B. Riley raised their price objective on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

TeraWulf Company 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.