Hennion & Walsh Asset Management Inc. Buys 30,831 Shares of TeraWulf Inc. $WULF

Hennion & Walsh Asset Management Inc. raised its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 66.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 77,400 shares of the company’s stock after purchasing an additional 30,831 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in TeraWulf were worth $1,912,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC bought a new position in TeraWulf during the 3rd quarter worth approximately $29,000. Vermillion Wealth Management Inc. grew its holdings in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC bought a new stake in TeraWulf in the fourth quarter valued at approximately $34,000. Comerica Bank increased its stake in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC raised 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 purchasing an additional 747 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Up 3.4%

WULF stock opened at $16.75 on Wednesday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $8.36 billion, a P/E ratio of -3.83 and a beta of 3.76. TeraWulf Inc. has a fifty-two week low of $5.18 and a fifty-two week high of $29.84. The business has a 50-day moving average of $22.17 and a 200-day moving average of $19.53.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 512.60%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts anticipate that TeraWulf Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WULF shares. Sanford C. Bernstein began coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Roth Capital reaffirmed a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 target price on shares of TeraWulf in a research note on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Finally, Morgan Stanley lifted their price objective on TeraWulf from $66.50 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and an average target price of $34.74.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by corporate insiders.

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.