TeraWulf Inc. $WULF Shares Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lifted its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 66.0% during the second quarter, HoldingsChannel reports. The firm owned 171,455 shares of the company’s stock after purchasing an additional 68,172 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in TeraWulf were worth $751,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WULF. Edmond DE Rothschild Holding S.A. purchased a new stake in TeraWulf during the 1st quarter worth $29,000. Nisa Investment Advisors LLC increased its position in shares of TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after acquiring an additional 3,784 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of TeraWulf in the first quarter worth about $33,000. Comerica Bank boosted its holdings in TeraWulf by 3,748.5% in 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 during the last quarter. Finally, Platform Technology Partners acquired a new stake in TeraWulf during the 1st quarter valued at approximately $39,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of TeraWulf in a report on Wednesday, October 8th. B. Riley reaffirmed a “buy” rating on shares of TeraWulf in a report on Wednesday, October 22nd. Citizens Jmp increased their price objective on shares of TeraWulf from $18.00 to $22.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, October 21st. Finally, Compass Point set a $17.00 target price on shares of TeraWulf and gave the company a “neutral” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

TeraWulf Trading Down 2.4%

NASDAQ WULF opened at $13.94 on Friday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. TeraWulf Inc. has a one year low of $2.06 and a one year high of $17.05. The company has a 50-day simple moving average of $12.36 and a 200-day simple moving average of $7.46. The firm has a market capitalization of $5.69 billion, a PE ratio of -39.83 and a beta of 3.57.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The business had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. During the same period in the prior year, the business earned ($0.03) EPS. The business’s revenue was up 33.9% on a year-over-year basis. On average, equities analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the sale, the director owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.90% of the company’s stock.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.