Ardsley Advisory Partners LP Trims Stock Holdings in TeraWulf Inc. $WULF

Ardsley Advisory Partners LP reduced its stake in TeraWulf Inc. (NASDAQ:WULF) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,165,000 shares of the company’s stock after selling 35,000 shares during the period. TeraWulf makes up approximately 1.5% of Ardsley Advisory Partners LP’s portfolio, making the stock its 19th biggest position. Ardsley Advisory Partners LP’s holdings in TeraWulf were worth $13,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in TeraWulf during the 3rd quarter worth approximately $29,000. Vermillion Wealth Management Inc. grew its position in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new position in shares of TeraWulf in the fourth quarter worth $34,000. Comerica Bank raised its position in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after buying an additional 12,370 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of TeraWulf in the fourth quarter worth $46,000. 62.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on WULF shares. Cantor Fitzgerald upped their target price on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Bank of America started coverage on TeraWulf in a report on Monday. They set a “buy” rating and a $34.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Keefe, Bruyette & Woods lifted their target price on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, B. Riley Financial increased their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TeraWulf has a consensus rating of “Moderate Buy” and an average price target of $31.86.

TeraWulf Stock Performance

NASDAQ:WULF opened at $27.86 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a twelve month low of $3.39 and a twelve month high of $29.30. The stock has a market cap of $13.81 billion, a P/E ratio of -11.23 and a beta of 3.82. The firm’s fifty day simple moving average is $22.90 and its 200 day simple moving average is $17.42.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $34.69 million. During the same quarter last year, the firm posted ($0.16) EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts predict that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Michael C. Bucella acquired 1,665 shares of TeraWulf stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the acquisition, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of the firm’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 transaction of $4,071,259.50. Following the completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 520,850 shares of company stock worth $10,778,114. Company insiders own 15.90% of the company’s stock.

TeraWulf Company 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.