Spear Advisors LLC Makes New Investment in TeraWulf Inc. $WULF

Spear Advisors LLC acquired a new position in TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 576,598 shares of the company’s stock, valued at approximately $6,625,000. TeraWulf accounts for 4.6% of Spear Advisors LLC’s portfolio, making the stock its 9th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kraematon Investment Advisors Inc. boosted its holdings in TeraWulf by 2.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock worth $488,000 after purchasing an additional 952 shares during the period. R Squared Ltd boosted its holdings in shares of TeraWulf by 5.0% during the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock valued at $255,000 after acquiring an additional 1,056 shares during the period. Franklin Resources Inc. boosted its holdings in shares of TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after acquiring an additional 1,259 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of TeraWulf by 10.7% during the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after acquiring an additional 1,293 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of TeraWulf by 7.3% during the third quarter. Xponance Inc. now owns 22,215 shares of the company’s stock valued at $254,000 after acquiring an additional 1,503 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Activity at TeraWulf

In related news, CEO Paul B. Prager sold 79,200 shares of TeraWulf stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $20.62, for a total transaction of $1,633,104.00. Following the sale, the chief executive officer directly owned 884,320 shares in the company, valued at $18,234,678.40. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of TeraWulf stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. Company insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF opened at $22.32 on Friday. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $25.76. The firm has a fifty day moving average of $18.36 and a 200-day moving average of $15.55. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 1.20. The company has a market cap of $11.06 billion, a price-to-earnings ratio of -9.00 and a beta of 3.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WULF shares. Rosenblatt Securities reissued a “buy” rating and set a $27.00 price target on shares of TeraWulf in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Needham & Company LLC boosted their price target on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price target on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.55.

About TeraWulf

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.