250,000 Shares in TeraWulf Inc. $WULF Acquired by GeoSphere Capital Management LLC

GeoSphere Capital Management LLC bought a new position in TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, Holdings Channel reports. The institutional investor bought 250,000 shares of the company’s stock, valued at approximately $2,872,000. TeraWulf makes up about 0.9% of GeoSphere Capital Management LLC’s holdings, making the stock its 21st biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in TeraWulf by 6.6% in the 4th quarter. Legal & General Group Plc now owns 331,273 shares of the company’s stock worth $3,806,000 after buying an additional 20,542 shares during the last quarter. Prospera Financial Services Inc bought a new stake in TeraWulf in the 4th quarter worth approximately $120,000. Legato Capital Management LLC bought a new stake in TeraWulf in the 4th quarter worth approximately $460,000. Global Retirement Partners LLC lifted its position in TeraWulf by 1,184.2% in the 4th quarter. Global Retirement Partners LLC now owns 5,702 shares of the company’s stock worth $66,000 after buying an additional 5,258 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in TeraWulf by 14.5% in the 4th quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock worth $142,000 after buying an additional 1,563 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Needham & Company LLC boosted their target price on TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Jefferies Financial Group started coverage on TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of TeraWulf in a research report on Monday, May 11th. Northland Securities set a $30.00 price objective on TeraWulf in a research report on Monday, May 4th. Finally, Morgan Stanley boosted their price objective on TeraWulf to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.59.

Insider Activity

In related news, CFO Patrick Fleury sold 573,586 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $9,257,678.04. Following the sale, the chief financial officer directly owned 3,205,000 shares of the company’s stock, valued at $51,728,700. This represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $20.80, for a total value of $2,860,000.00. Following the completion of the sale, the chief executive officer directly owned 963,520 shares in the company, valued at approximately $20,041,216. The trade was a 12.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 13,094 shares of company stock valued at $200,392 and have sold 954,200 shares valued at $16,390,854. Insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF stock opened at $22.82 on Monday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $25.76. The stock has a 50 day moving average price of $19.11 and a two-hundred day moving average price of $15.80. The company has a market capitalization of $11.31 billion, a P/E ratio of -9.20 and a beta of 3.84.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. During the same period last year, the firm posted ($0.16) earnings per share. TeraWulf’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that TeraWulf Inc. will post -0.53 earnings per share for the current year.

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.