Quantbot Technologies LP Invests $2.69 Million in TeraWulf Inc. $WULF

Quantbot Technologies LP bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 109,083 shares of the company’s stock, valued at approximately $2,694,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in TeraWulf in the third quarter valued at $29,000. Vermillion Wealth Management Inc. boosted its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares in the last quarter. Solstein Capital LLC acquired a new stake in shares of TeraWulf during the 4th quarter valued at about $34,000. Comerica Bank grew its position in shares of 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 acquiring an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC increased its stake in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on WULF. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Sanford C. Bernstein initiated coverage on TeraWulf in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective for the company. Northland Securities set a $30.00 target price on TeraWulf in a research report on Monday, May 4th. Zacks Research raised shares of TeraWulf from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Finally, B. Riley Financial boosted their price target on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.21.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares of the company’s stock, valued at approximately $6,021,978.88. This represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

WULF stock opened at $15.64 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -3.58 and a beta of 3.76. The business’s 50-day moving average is $20.76 and its 200 day moving average is $19.67.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same period in the previous year, the company earned ($0.05) EPS. TeraWulf’s revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

TeraWulf 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.