Tiptree Advisors LLC Buys Shares of 357,800 TeraWulf Inc. $WULF

Tiptree Advisors LLC purchased a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 357,800 shares of the company’s stock, valued at approximately $8,838,000. TeraWulf makes up 5.5% of Tiptree Advisors LLC’s portfolio, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Odyssean LLC purchased a new stake in TeraWulf during the second quarter valued at $554,000. Man Group plc bought a new position in TeraWulf in the second quarter valued at about $11,772,000. Jupiter Topco LLC purchased a new position in TeraWulf in the second quarter worth about $4,210,000. EFG International AG purchased a new position in TeraWulf in the second quarter worth about $4,489,000. Finally, Ancora Advisors LLC bought a new stake in shares of TeraWulf during the 2nd quarter valued at about $156,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Stock Performance

Shares of WULF opened at $15.97 on Thursday. The business has a 50-day simple moving average of $20.03 and a two-hundred day simple moving average of $19.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -3.65 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data 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 company had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts expect that TeraWulf Inc. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

WULF has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. B. Riley Financial raised their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Citigroup started coverage on shares of TeraWulf in a report on Monday, June 29th. They set a “buy” rating and a $36.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their price target on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Insider Activity at TeraWulf

In other news, Director Michael C. Bucella purchased 3,023 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the completion of the transaction, the director directly owned 341,844 shares in the company, valued at $5,654,099.76. This trade represents a 0.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by 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.