UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 266,607 Shares of TeraWulf Inc. $WULF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in TeraWulf Inc. (NASDAQ:WULF) by 54.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 753,721 shares of the company’s stock after buying an additional 266,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of TeraWulf worth $18,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in shares of TeraWulf during the 3rd quarter valued at $29,000. Vermillion Wealth Management Inc. grew its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC acquired a new stake in TeraWulf in the fourth quarter worth $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 increased its stake in TeraWulf by 106.7% in the second 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 currently owned by institutional investors.

TeraWulf Stock Performance

Shares of WULF opened at $16.51 on Friday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $18.34 and a two-hundred day moving average price of $19.67. The firm has a market capitalization of $8.24 billion, a P/E ratio of -3.78 and a beta of 3.70. TeraWulf Inc. has a 52 week low of $8.70 and a 52 week high of $29.84.

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 the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Equities analysts forecast that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Bucella purchased 2,860 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average cost of $17.47 per share, with a total value of $49,964.20. Following the completion of the transaction, the director directly owned 344,704 shares of the company’s stock, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Prager sold 137,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the transaction, the chief executive officer owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This trade represents a 3.49% 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. Insiders sold a total of 405,626 shares of company stock worth $7,980,928 over the last quarter. Insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WULF. Keefe, Bruyette & Woods reduced their target price on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Sanford C. Bernstein began coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Chardan Capital reiterated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. B. Riley Financial raised their price objective on TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, William Blair began coverage on TeraWulf in a report on Friday, August 28th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.21.

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.