98,297 Shares in TeraWulf Inc. $WULF Bought by Purpose Unlimited Inc.

Purpose Unlimited Inc. bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 4th quarter, Holdings Channel.com reports. The firm bought 98,297 shares of the company’s stock, valued at approximately $1,129,000.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of TeraWulf during the third quarter worth about $29,000. Vermillion Wealth Management Inc. boosted its holdings in 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 acquiring an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new stake in TeraWulf during the 4th quarter valued at approximately $34,000. Comerica Bank increased its position in TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Finally, Activest Wealth Management bought a new position in TeraWulf during the 4th quarter worth approximately $46,000. Institutional investors own 62.49% of the company’s stock.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock worth $10,778,114 in the last quarter. 15.90% of the stock is currently owned by corporate insiders.

TeraWulf Price Performance

TeraWulf stock opened at $28.98 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a 12-month low of $3.39 and a 12-month high of $29.67. The firm’s fifty day moving average is $23.37 and its 200 day moving average is $17.59. The company has a market capitalization of $14.36 billion, a PE ratio of -11.69 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WULF shares. Arete Research started coverage on shares of TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Needham & Company LLC lifted their target price on shares of TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods boosted their target price on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $27.00 target price on shares of TeraWulf in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average price target of $31.86.

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.