Man Group plc Invests $11.77 Million in TeraWulf Inc. $WULF

Man Group plc bought a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the second quarter, HoldingsChannel reports. The firm bought 476,606 shares of the company’s stock, valued at approximately $11,772,000.

Several other institutional investors also recently bought and sold shares of WULF. Advisory Services Network LLC purchased a new stake in TeraWulf in the 3rd quarter worth $29,000. Vermillion Wealth Management Inc. increased its holdings in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares during the last quarter. Solstein Capital LLC purchased a new stake in shares of TeraWulf in the fourth quarter worth about $34,000. Comerica Bank lifted 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, CoreCap Advisors LLC boosted its stake in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after buying an additional 747 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 2,860 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $17.47 per share, with a total value of $49,964.20. Following the purchase, the director owned 344,704 shares of the company’s stock, valued at $6,021,978.88. The trade was a 0.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Trading Up 3.3%

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

TeraWulf (NASDAQ:WULF) last released its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the business posted ($0.05) EPS. TeraWulf’s revenue was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WULF shares. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Citigroup began coverage on shares of TeraWulf in a research report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target on the stock. Chardan Capital reaffirmed a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. Morgan Stanley lowered their price objective on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Compass Point set a $40.00 price objective on shares of TeraWulf in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and an average price target of $34.21.

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.