AlTi Global Inc. Acquires New Stake in TeraWulf Inc. $WULF

AlTi Global Inc. acquired a new stake in TeraWulf Inc. (NASDAQ:WULF) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 402,800 shares of the company’s stock, valued at approximately $4,600,000.

Several other institutional investors and hedge funds have also made changes to their positions in WULF. Nisa Investment Advisors LLC boosted its stake in shares of TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock valued at $29,000 after purchasing an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after buying an additional 4,800 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after buying an additional 2,748 shares in the last quarter. Comerica Bank boosted its position in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in TeraWulf in the 2nd quarter worth about $41,000. 62.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on WULF shares. Wall Street Zen downgraded shares of TeraWulf from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Oppenheimer began coverage on TeraWulf in a research report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 target price for the company. UBS Group set a $18.25 target price on TeraWulf in a report on Friday, October 24th. Northland Securities set a $23.25 price target on TeraWulf in a research note on Wednesday, October 29th. Finally, Citizens Jmp lifted their price objective on TeraWulf from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.43.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 4,178 shares of the stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the acquisition, the director owned 266,958 shares of the company’s stock, valued at approximately $3,206,165.58. This represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.90% of the company’s stock.

TeraWulf Trading Up 16.5%

Shares of NASDAQ:WULF opened at $16.65 on Tuesday. The company has a market capitalization of $6.97 billion, a PE ratio of -11.73 and a beta of 3.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $17.05. The business’s fifty day simple moving average is $13.50 and its 200-day simple moving average is $11.84.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The company had revenue of $50.58 million during the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The company’s revenue was up 86.9% compared to the same quarter last year. As a group, equities research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

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.