Geode Capital Management LLC Has $96.27 Million Holdings in TeraWulf Inc. $WULF

Geode Capital Management LLC boosted its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,377,589 shares of the company’s stock after purchasing an additional 318,842 shares during the quarter. Geode Capital Management LLC owned 2.00% of TeraWulf worth $96,274,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in TeraWulf during the 3rd quarter valued at $29,000. Comerica Bank raised its stake in TeraWulf by 3,748.5% during the 1st 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 last quarter. Activest Wealth Management acquired a new position in TeraWulf during the 4th quarter valued at $46,000. Rafferty Asset Management LLC acquired a new position in TeraWulf during the 2nd quarter valued at $53,000. Finally, PNC Financial Services Group Inc. raised its stake in TeraWulf by 116.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $61,000 after purchasing an additional 2,874 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WULF. Morgan Stanley set a $66.50 target price on shares of TeraWulf in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $35.00 target price on shares of TeraWulf in a research note on Wednesday, May 27th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research note on Wednesday. They set an “outperform” rating and a $46.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $27.00 price objective on shares of TeraWulf in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.72.

TeraWulf Trading Down 8.4%

Shares of WULF stock opened at $24.00 on Friday. TeraWulf Inc. has a 52-week low of $3.39 and a 52-week high of $27.47. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -9.68 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a fifty day moving average of $21.07 and a 200-day moving average of $16.63.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares in the company, valued at approximately $51,728,700. This represents a 15.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders acquired 8,590 shares of company stock worth $130,291 and sold 1,120,850 shares worth $20,462,114. Corporate insiders own 15.90% of the company’s stock.

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.