TeraWulf Inc. $WULF Position Cut by First Dallas Securities Inc.

First Dallas Securities Inc. reduced its holdings in TeraWulf Inc. (NASDAQ:WULF) by 14.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,750 shares of the company’s stock after selling 26,250 shares during the quarter. First Dallas Securities Inc.’s holdings in TeraWulf were worth $2,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Comerica Bank increased its holdings in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Millennium Management LLC lifted its holdings in TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after purchasing an additional 793,832 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. Creative Planning grew its position in TeraWulf by 232.2% in the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after buying an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after buying an additional 5,432 shares during the period. Institutional investors own 62.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WULF. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald raised their price objective on shares of TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Morgan Stanley set a $66.50 target price on TeraWulf in a report on Wednesday, June 3rd. Finally, Bank of America started coverage on TeraWulf in a research report on Monday, June 15th. They issued a “buy” rating and a $34.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.10.

Insider Activity

In related news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock worth $12,221,864 in the last quarter. 15.90% of the stock is owned by insiders.

TeraWulf Stock Performance

WULF opened at $21.18 on Friday. The firm has a market cap of $10.50 billion, a PE ratio of -8.54 and a beta of 3.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The business has a fifty day simple moving average of $24.43 and a 200-day simple moving average of $18.31. TeraWulf Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. As a group, equities analysts predict that TeraWulf Inc. will post -0.96 EPS 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.