Steamboat Capital Partners LLC Has $1.83 Million Position in TeraWulf Inc. $WULF

Steamboat Capital Partners LLC cut its holdings in TeraWulf Inc. (NASDAQ:WULF) by 85.8% during the second quarter, Holdings Channel.com reports. The fund owned 74,149 shares of the company’s stock after selling 447,649 shares during the period. Steamboat Capital Partners LLC’s holdings in TeraWulf were worth $1,831,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC raised its position in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after acquiring an additional 747 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of TeraWulf in the 2nd quarter worth $41,000. Advisory Services Network LLC bought a new position in shares of TeraWulf in the 3rd quarter worth $29,000. First United Bank & Trust acquired a new stake in shares of TeraWulf during the first quarter worth $37,000. Finally, Vermillion Wealth Management Inc. grew its stake in shares of TeraWulf by 1,191.0% during 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. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analysts Set New Price Targets

WULF has been the topic of several analyst reports. Compass Point set a $40.00 target price on TeraWulf in a research note on Monday, July 6th. Morgan Stanley lowered their price target on TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Finally, Needham & Company LLC boosted their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Stock Up 8.2%

Shares of TeraWulf stock opened at $17.86 on Wednesday. The company has a market capitalization of $8.91 billion, a P/E ratio of -4.09 and a beta of 3.70. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day moving average of $18.02 and a two-hundred day moving average of $19.72. TeraWulf Inc. has a 1 year low of $9.13 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities analysts predict that TeraWulf Inc. will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the transaction, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella purchased 2,860 shares of the business’s stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following 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 disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 405,626 shares of company stock worth $7,980,928. Company insiders own 15.90% of the company’s stock.

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.