Capstone Investment Advisors LLC Purchases New Position in TeraWulf Inc. $WULF

Capstone Investment Advisors LLC acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 188,527 shares of the company’s stock, valued at approximately $4,657,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of TeraWulf during the second quarter worth $577,805,000. Vanguard Group Inc. lifted its stake in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of TeraWulf during the 3rd quarter valued at $69,006,000. Bank of America Corp DE acquired a new stake in shares of TeraWulf during the 2nd quarter valued at $140,057,000. Finally, Wellington Management Group LLP boosted its holdings in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after acquiring an additional 3,891,127 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the firm’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 transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of the stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $17.47 per share, with a total value of $49,964.20. Following the acquisition, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. The trade was a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WULF shares. Northland Securities set a $30.00 target price on TeraWulf in a report on Monday, May 4th. Chardan Capital reissued a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. Needham & Company LLC boosted their price target on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Sanford C. Bernstein initiated coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, Compass Point set a $40.00 price objective on shares of TeraWulf in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and an average price target of $34.21.

TeraWulf Stock Up 3.3%

Shares of WULF opened at $16.49 on Friday. The stock’s 50-day moving average price is $19.78 and its two-hundred day moving average price is $19.73. TeraWulf Inc. has a 12 month low of $8.60 and a 12 month high of $29.84. The company has a market capitalization of $8.23 billion, a PE ratio of -3.77 and a beta of 3.76. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The company 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%.TeraWulf’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current year.

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.