Public Employees Retirement System of Ohio Makes New $2.54 Million Investment in TeraWulf Inc. $WULF

Public Employees Retirement System of Ohio bought a new stake in TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,048 shares of the company’s stock, valued at approximately $2,545,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $577,805,000. Voloridge Investment Management LLC bought a new position in shares of TeraWulf during the 3rd quarter worth approximately $69,006,000. Bank of America Corp DE acquired a new stake in TeraWulf in the 2nd quarter valued at $140,057,000. Wellington Management Group LLP raised its stake in TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after acquiring an additional 3,891,127 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in TeraWulf during the first quarter worth about $53,418,000. Institutional investors own 62.49% of the company’s stock.

Insider Buying and Selling at TeraWulf

In other news, Director Michael Bucella bought 2,860 shares of the stock in a transaction dated Monday, August 17th. The shares were bought at an average price of $17.47 per share, for a total transaction of $49,964.20. Following the completion of the purchase, the director owned 344,704 shares in the company, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter Carter sold 130,626 shares of TeraWulf stock in a transaction dated 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 completion of the sale, the director owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 405,626 shares of company stock valued at $7,980,928 in the last quarter. 15.90% of the stock is currently owned by insiders.

TeraWulf Stock Performance

WULF opened at $16.51 on Friday. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of -3.78 and a beta of 3.70. The business’s 50-day moving average price is $18.34 and its two-hundred day moving average price is $19.67. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf Inc. has a 1 year low of $8.70 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts expect that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Needham & Company LLC increased their price target on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a research report on Friday, August 21st. Citigroup assumed coverage on TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price objective on the stock. Bank of America assumed coverage on TeraWulf in a report on Monday, June 15th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Morgan Stanley lowered their target price on TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and a consensus target price of $34.21.

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.