100,260 Shares in TeraWulf Inc. $WULF Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new stake in TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,260 shares of the company’s stock, valued at approximately $2,476,000.

A number of other institutional investors also recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in shares of TeraWulf during the 3rd quarter worth $29,000. Vermillion Wealth Management Inc. boosted its holdings 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 last quarter. Solstein Capital LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at $34,000. Comerica Bank increased its position in TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of 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 buying an additional 747 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. 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 research report on Tuesday, July 7th. Bank of America started coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price objective for the company. Chardan Capital reissued a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Finally, Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 3,023 shares of TeraWulf stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $16.54 per share, with a total value of $50,000.42. Following the completion of the purchase, the director directly owned 341,844 shares in the company, valued at $5,654,099.76. This trade represents a 0.89% increase in their position. The disclosure for this purchase is available in the SEC filing. 15.90% of the stock is owned by company insiders.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $15.64 on Friday. The firm has a fifty day moving average of $20.76 and a two-hundred day moving average of $19.62. 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 market capitalization of $7.80 billion, a price-to-earnings ratio of -3.58 and a beta of 3.76. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84.

TeraWulf (NASDAQ:WULF) last posted its earnings results 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). The business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, equities research analysts predict that TeraWulf Inc. will post -0.94 EPS for the current year.

About TeraWulf

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.