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

Harvest Portfolios Group Inc. lessened its position in TeraWulf Inc. (NASDAQ:WULF) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,533 shares of the company’s stock after selling 74,645 shares during the period. Harvest Portfolios Group Inc.’s holdings in TeraWulf were worth $2,350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of TeraWulf by 45.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of TeraWulf by 178.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after acquiring an additional 96,843 shares during the period. First Dallas Securities Inc. increased its holdings in shares of TeraWulf by 99.2% in the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock worth $3,015,000 after acquiring an additional 131,500 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of TeraWulf in the 3rd quarter worth about $3,350,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WULF shares. Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Morgan Stanley raised their target price on shares of TeraWulf to $42.00 and gave the company an “overweight” rating in a research note on Tuesday. Northland Securities set a $30.00 target price on shares of TeraWulf in a research note on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of TeraWulf in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.59.

TeraWulf Stock Up 1.4%

TeraWulf stock opened at $21.63 on Thursday. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of -8.72 and a beta of 3.84. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company’s 50-day moving average price is $18.78 and its two-hundred day moving average price is $15.70. TeraWulf Inc. has a 52 week low of $3.39 and a 52 week high of $25.76.

TeraWulf (NASDAQ:WULF) last released 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). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS. On average, analysts expect that TeraWulf Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $20.80, for a total value of $2,860,000.00. Following the transaction, the chief executive officer owned 963,520 shares of the company’s stock, valued at $20,041,216. The trade was a 12.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael C. Bucella acquired 3,171 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, for a total transaction of $50,038.38. Following the purchase, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 13,094 shares of company stock valued at $200,392 and have sold 954,200 shares valued at $16,390,854. Corporate insiders own 15.90% of the company’s stock.

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.