69,404 Shares in TeraWulf Inc. $WULF Acquired by Federated Hermes Inc.

Federated Hermes Inc. bought a new stake in TeraWulf Inc. (NASDAQ:WULF) during the 3rd quarter, HoldingsChannel reports. The fund bought 69,404 shares of the company’s stock, valued at approximately $793,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its position in TeraWulf by 12.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after acquiring an additional 1,250 shares during the period. Sei Investments Co. raised its stake in shares of TeraWulf by 5.2% during the second quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock valued at $164,000 after purchasing an additional 1,869 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in TeraWulf by 20.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,262 shares of the company’s stock worth $151,000 after purchasing an additional 2,206 shares during the period. Envestnet Asset Management Inc. grew its position in TeraWulf by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after buying an additional 2,258 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake 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 during the period. Institutional investors own 62.49% of the company’s stock.

Insider Activity at TeraWulf

In other news, Director Michael C. Bucella acquired 4,178 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, with a total value of $50,177.78. Following the purchase, the director owned 266,958 shares of the company’s stock, valued at approximately $3,206,165.58. This trade represents a 1.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 19.90% of the company’s stock.

TeraWulf Trading Up 19.9%

Shares of NASDAQ:WULF opened at $14.29 on Friday. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -10.06 and a beta of 3.69. TeraWulf Inc. has a 1-year low of $2.06 and a 1-year high of $17.05. The company has a 50 day moving average price of $13.47 and a 200 day moving average price of $11.67.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The company had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. The company’s revenue was up 86.9% on a year-over-year basis. On average, research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Northland Securities set a $23.25 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Compass Point set a $17.00 target price on TeraWulf and gave the stock a “neutral” rating in a report on Tuesday, October 28th. B. Riley Financial upped their target price on TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and set a $24.00 price target on shares of TeraWulf in a research report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods raised TeraWulf from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $9.50 to $24.00 in a research note on Wednesday, December 31st. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.15.

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.