Hodges Capital Management Inc. Sells 364,955 Shares of TeraWulf Inc. $WULF

Hodges Capital Management Inc. trimmed its holdings in TeraWulf Inc. (NASDAQ:WULF) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,501,589 shares of the company’s stock after selling 364,955 shares during the period. TeraWulf comprises about 3.0% of Hodges Capital Management Inc.’s holdings, making the stock its 4th largest position. Hodges Capital Management Inc.’s holdings in TeraWulf were worth $36,098,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Bank of America Corp DE boosted its stake in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley raised its stake in shares of TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC raised its position in TeraWulf by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after buying an additional 318,842 shares during the last quarter. Finally, State Street Corp grew its stake in shares of TeraWulf by 4.2% in the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after acquiring an additional 298,645 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 520,850 shares of company stock valued at $12,221,864 over the last three months. Company insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WULF shares. Jefferies Financial Group initiated coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research note on Wednesday, May 27th. Cantor Fitzgerald lifted their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Needham & Company LLC upped their target price on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Arete Research started coverage on TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and a consensus target price of $32.10.

TeraWulf Price Performance

WULF opened at $21.18 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of -8.54 and a beta of 3.73. TeraWulf Inc. has a twelve month low of $4.52 and a twelve month high of $29.84. The company’s 50-day moving average price is $24.43 and its two-hundred day moving average price is $18.35.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) EPS. As a group, equities analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current year.

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.