AXQ Capital LP Buys New Stake in TeraWulf Inc. $WULF

AXQ Capital LP bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) during the 4th quarter, Holdings Channel reports. The firm bought 43,258 shares of the company’s stock, valued at approximately $497,000.

A number of other institutional investors also recently added to or reduced their stakes in WULF. Vanguard Group Inc. grew its position in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after buying an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf during the 3rd quarter worth about $69,006,000. Wellington Management Group LLP lifted its stake in shares of TeraWulf by 36,193.2% in the 3rd 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 during the period. Bank of America Corp DE lifted its stake in shares of TeraWulf by 22.2% in 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 period. Finally, Jump Financial LLC bought a new position in shares of TeraWulf in the third quarter valued at approximately $27,220,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Buying and Selling

In other TeraWulf news, CFO Patrick Fleury sold 573,586 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer directly owned 3,205,000 shares in the company, valued at $51,728,700. This trade represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael C. Bucella bought 1,665 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 9,269 shares of company stock valued at $140,341 and have sold 1,120,850 shares valued at $20,462,114. 15.90% of the stock is currently owned by company insiders.

TeraWulf Stock Performance

WULF opened at $26.16 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The firm has a market cap of $12.96 billion, a PE ratio of -10.55 and a beta of 3.82. The business has a fifty day simple moving average of $20.72 and a 200-day simple moving average of $16.47. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $27.47.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same period last year, the firm earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WULF has been the topic of a number of research analyst reports. Arete Research assumed coverage on shares of TeraWulf in a research note on Monday, March 23rd. They set a “buy” rating and a $30.00 price objective on the stock. Sanford C. Bernstein assumed coverage on TeraWulf in a research note on Wednesday. They set an “outperform” rating and a $46.00 price target for the company. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald boosted their price objective on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods upped their price objective on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.72.

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.