Hennion & Walsh Asset Management Inc. Purchases 30,831 Shares of TeraWulf Inc. $WULF

Hennion & Walsh Asset Management Inc. lifted its holdings in TeraWulf Inc. (NASDAQ:WULF) by 66.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,400 shares of the company’s stock after acquiring an additional 30,831 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in TeraWulf were worth $1,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf during the third quarter worth $69,006,000. Wellington Management Group LLP increased its stake in shares of TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of TeraWulf in the first quarter valued at $53,418,000. Finally, Marshall Wace LLP raised its holdings in shares of TeraWulf by 574.2% in the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of TeraWulf 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 sale, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

TeraWulf Price Performance

Shares of WULF stock opened at $16.75 on Wednesday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -3.83 and a beta of 3.76. TeraWulf Inc. has a 12 month low of $5.18 and a 12 month high of $29.84. 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 stock has a 50-day moving average price of $22.17 and a 200 day moving average price of $19.53.

TeraWulf (NASDAQ:WULF) last issued 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 net margin of 1,179.94% and a negative return on equity of 512.60%. The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same period last year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts expect that TeraWulf Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of TeraWulf from $66.50 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Roth Capital reissued a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Keefe, Bruyette & Woods lowered their price target on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Finally, Jefferies Financial Group began coverage on shares of TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average target price of $34.74.

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.