RR Advisors LLC Invests $17.63 Million in TeraWulf Inc. $WULF

RR Advisors LLC bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 713,772 shares of the company’s stock, valued at approximately $17,630,000. TeraWulf accounts for about 5.1% of RR Advisors LLC’s portfolio, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank increased its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Millennium Management LLC lifted its stake in TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after buying an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after buying an additional 2,258 shares during the period. Creative Planning increased its position in shares of TeraWulf by 232.2% in the second quarter. Creative Planning now owns 47,665 shares of the company’s stock worth $209,000 after acquiring an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of TeraWulf by 10.6% in the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after acquiring an additional 5,432 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Price Performance

NASDAQ WULF opened at $15.64 on Monday. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of -3.58 and a beta of 3.76. The company has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $19.67. TeraWulf Inc. has a 52-week low of $8.60 and a 52-week high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the transaction, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director directly owned 344,704 shares of the company’s stock, valued at $6,021,978.88. The trade was a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WULF has been the subject of several research analyst reports. Chardan Capital restated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods cut their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Zacks Research upgraded TeraWulf from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Compass Point set a $40.00 price target on TeraWulf in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Company 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.