Galaxy Digital Inc. Buys New Shares in TeraWulf Inc. $WULF

Galaxy Digital Inc. acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the company’s stock, valued at approximately $1,443,000.

Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in TeraWulf during the third quarter worth about $29,000. Vermillion Wealth Management Inc. grew its holdings in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new stake in shares of TeraWulf during the fourth quarter valued at approximately $34,000. Comerica Bank raised its stake in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares in the last quarter. Finally, First United Bank & Trust acquired a new position in shares of TeraWulf in the 1st quarter valued at $37,000. Institutional investors own 62.49% of the company’s stock.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 520,850 shares of company stock worth $12,221,864. Company insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

WULF has been the subject of a number of analyst reports. Bank of America assumed coverage on shares of TeraWulf in a report on Monday, June 15th. They set a “buy” rating and a $34.00 price objective for the company. B. Riley Financial increased their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley raised their price target on shares of TeraWulf from $66.50 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.60.

TeraWulf Stock Down 7.9%

Shares of NASDAQ WULF opened at $18.46 on Friday. The stock has a market cap of $9.15 billion, a PE ratio of -7.44 and a beta of 3.73. The business has a fifty day moving average of $23.76 and a two-hundred day moving average of $19.16. TeraWulf Inc. has a 52-week low of $4.64 and a 52-week high of $29.84. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate 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 firm 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 firm posted ($0.16) EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that TeraWulf Inc. will post -1.09 earnings per share for the current fiscal year.

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.