TeraWulf Inc. $WULF Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its stake in TeraWulf Inc. (NASDAQ:WULF) by 12.7% during the second quarter, Holdings Channel.com reports. The fund owned 3,714,411 shares of the company’s stock after selling 540,546 shares during the period. Wellington Management Group LLP’s holdings in TeraWulf were worth $91,746,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after purchasing an additional 681 shares during the period. CoreCap Advisors LLC raised its position in 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 purchasing an additional 747 shares during the period. Franklin Resources Inc. lifted its stake in TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after purchasing an additional 1,259 shares in the last quarter. IFP Advisors Inc lifted its stake in TeraWulf by 14.5% during the fourth quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock worth $142,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Xponance LLC boosted its position in shares of TeraWulf by 7.7% during the fourth quarter. Xponance LLC now owns 23,928 shares of the company’s stock worth $275,000 after buying an additional 1,713 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WULF. Sanford C. Bernstein initiated coverage on TeraWulf in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price on the stock. B. Riley Financial lifted their target price on TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Needham & Company LLC boosted their price target on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Compass Point set a $40.00 price target on shares of TeraWulf in a research report on Monday, July 6th. Finally, Citigroup initiated coverage on shares of TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.21.

Insiders Place Their Bets

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter E. Carter sold 130,626 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director owned 229,090 shares of the company’s stock, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 405,626 shares of company stock worth $7,980,928 in the last 90 days. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF opened at $14.65 on Wednesday. The stock has a 50-day simple moving average of $18.96 and a 200-day simple moving average of $19.70. 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 $7.31 billion, a PE ratio of -3.35 and a beta of 3.71. TeraWulf Inc. has a 1 year low of $8.60 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last released its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, analysts predict that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal 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.