TeraWulf Inc. $WULF Stock: Illinois Municipal Retirement Fund Boosts Position

Illinois Municipal Retirement Fund boosted its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 117.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,448 shares of the company’s stock after acquiring an additional 127,020 shares during the period. Illinois Municipal Retirement Fund’s holdings in TeraWulf were worth $3,485,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AlphaCore Capital LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $245,000. Fulcrum Asset Management LLP raised its position in shares of TeraWulf by 368.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 82,558 shares of the company’s stock worth $1,246,000 after purchasing an additional 64,928 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of TeraWulf by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 976,923 shares of the company’s stock worth $14,566,000 after purchasing an additional 137,020 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in TeraWulf by 7.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 73,421 shares of the company’s stock valued at $1,087,000 after buying an additional 5,012 shares in the last quarter. Finally, Kraematon Investment Advisors Inc. lifted its stake in TeraWulf by 10.3% in the 3rd quarter. Kraematon Investment Advisors Inc. now owns 46,125 shares of the company’s stock valued at $683,000 after buying an additional 4,325 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 3.2%

Shares of WULF traded down $0.42 on Friday, hitting $12.62. 41,258,133 shares of the stock traded hands, compared to its average volume of 52,885,644. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 5.35. The firm has a market capitalization of $6.33 billion, a P/E ratio of -3.86 and a beta of 4.00. The stock’s 50 day moving average is $13.97 and its two-hundred day moving average is $17.92. TeraWulf Inc. has a 1 year low of $9.51 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The firm had revenue of $76.23 million for the quarter, compared to analyst estimates of $62.49 million. TeraWulf had a negative net margin of 410.92% and a positive return on equity of 87.30%. TeraWulf’s revenue was up 50.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.13) earnings per share. As a group, sell-side analysts predict that TeraWulf Inc. will post -0.48 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other news, Director Walter E. Carter sold 130,626 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the sale, the director owned 229,090 shares in the company, valued at $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael C. Bucella acquired 6,085 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $14.79 per share, with a total value of $89,997.15. Following the transaction, the director owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 15.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating on shares of TeraWulf in a report on Friday, August 21st. Needham & Company LLC dropped their price target on TeraWulf from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Chardan Capital reissued a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Keefe, Bruyette & Woods reduced their price objective on TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, UBS Group began coverage on TeraWulf in a research note on Wednesday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.18.

TeraWulf Company Profile

TeraWulf, Inc. develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing. Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.