CastleKnight Management LP Has $5.85 Million Holdings in TeraWulf Inc. $WULF

CastleKnight Management LP lessened its stake in TeraWulf Inc. (NASDAQ:WULF) by 32.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 509,300 shares of the company’s stock after selling 243,000 shares during the quarter. CastleKnight Management LP’s holdings in TeraWulf were worth $5,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. boosted its holdings in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf in the fourth quarter valued at approximately $34,000. Comerica Bank boosted its holdings in shares of 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 buying an additional 12,370 shares during the period. Finally, Activest Wealth Management acquired a new position in shares of TeraWulf in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the acquisition, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock valued at $10,778,114 in the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WULF. Bank of America began coverage on shares of TeraWulf in a report on Monday. They issued a “buy” rating and a $34.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Finally, Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.86.

TeraWulf Stock Performance

Shares of WULF opened at $27.86 on Thursday. TeraWulf Inc. has a 12 month low of $3.39 and a 12 month high of $29.30. The firm has a fifty day simple moving average of $22.90 and a 200 day simple moving average of $17.42. The stock has a market capitalization of $13.81 billion, a price-to-earnings ratio of -11.23 and a beta of 3.82. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the previous year, the company posted ($0.16) EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts forecast that TeraWulf Inc. will post -0.96 EPS for the current fiscal 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.