Covestor Ltd Sells 45,474 Shares of TeraWulf Inc. $WULF

Covestor Ltd lowered its position in TeraWulf Inc. (NASDAQ:WULF) by 32.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,589 shares of the company’s stock after selling 45,474 shares during the quarter. TeraWulf accounts for approximately 0.6% of Covestor Ltd’s investment portfolio, making the stock its 12th largest position. Covestor Ltd’s holdings in TeraWulf were worth $1,080,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of TeraWulf by 13.8% during the second quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock worth $17,794,000 after purchasing an additional 493,001 shares during the period. Tidal Investments LLC grew its stake in shares of TeraWulf by 6.0% in the second quarter. Tidal Investments LLC now owns 2,673,105 shares of the company’s stock worth $11,708,000 after purchasing an additional 150,346 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TeraWulf by 64.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,646,707 shares of the company’s stock valued at $11,590,000 after purchasing an additional 1,033,073 shares during the period. Finally, Vident Advisory LLC increased its holdings in TeraWulf by 5.7% in the second quarter. Vident Advisory LLC now owns 2,500,483 shares of the company’s stock valued at $10,952,000 after purchasing an additional 134,241 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella acquired 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, with a total value of $50,177.78. Following the completion of the purchase, the director owned 266,958 shares of the company’s stock, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.90% of the company’s stock.

TeraWulf Stock Down 1.6%

Shares of NASDAQ WULF opened at $13.12 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The firm has a market cap of $5.49 billion, a PE ratio of -9.24 and a beta of 3.69. The company’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $10.97. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $17.05.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The company had revenue of $50.58 million during the quarter, compared to the consensus estimate of $56.27 million. TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The firm’s quarterly revenue was up 86.9% compared to the same quarter last year. As a group, sell-side analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WULF shares. Wall Street Zen lowered TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. UBS Group set a $18.25 target price on TeraWulf in a report on Friday, October 24th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 target price on shares of TeraWulf in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $9.50 to $24.00 in a research report on Wednesday, December 31st. Finally, Oppenheimer started coverage on shares of TeraWulf in a research note on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and a consensus price target of $19.15.

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.