Silvant Capital Management LLC Makes New Investment in TeraWulf Inc. $WULF

Silvant Capital Management LLC purchased a new position in TeraWulf Inc. (NASDAQ:WULF) during the second quarter, HoldingsChannel reports. The firm purchased 87,605 shares of the company’s stock, valued at approximately $2,164,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after buying an additional 9,162,958 shares in the last quarter. BlackRock Inc. bought a new position in TeraWulf in the 2nd quarter worth about $577,805,000. Bank of America Corp DE grew its stake in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. Morgan Stanley increased its position in shares of TeraWulf by 8.1% during the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella acquired 2,860 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $17.47 per share, with a total value of $49,964.20. Following the transaction, the director directly owned 344,704 shares in the company, valued at approximately $6,021,978.88. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of the business’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 transaction, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This trade represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by company insiders.

TeraWulf Trading Up 6.1%

Shares of NASDAQ:WULF opened at $16.45 on Friday. The company has a market capitalization of $8.21 billion, a PE ratio of -3.76 and a beta of 3.76. 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 business’s fifty day simple moving average is $20.97 and its 200-day simple moving average is $19.65.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share 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%. TeraWulf’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. As a group, equities research analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on WULF shares. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Zacks Research raised TeraWulf from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup initiated coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of TeraWulf in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.21.

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.