Purpose Unlimited Inc. Takes Position in TeraWulf Inc. $WULF

Purpose Unlimited Inc. purchased a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 98,297 shares of the company’s stock, valued at approximately $1,129,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WULF. Comerica Bank raised its position in 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of 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 purchasing an additional 2,258 shares during the last quarter. Creative Planning increased its stake in shares of 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 purchasing an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after buying an additional 5,432 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on WULF shares. Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Cantor Fitzgerald lifted their target price on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a report on Thursday, June 4th. Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.86.

TeraWulf Price Performance

Shares of WULF opened at $28.98 on Friday. 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 market cap of $14.36 billion, a PE ratio of -11.69 and a beta of 3.82. TeraWulf Inc. has a 12-month low of $3.39 and a 12-month high of $29.67. The business has a 50-day simple moving average of $23.37 and a two-hundred day simple moving average of $17.59.

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

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction that occurred 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 sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 520,850 shares of company stock worth $10,778,114. 15.90% of the stock is owned by company insiders.

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.