BIT Capital GmbH Boosts Stake in TeraWulf Inc. $WULF

BIT Capital GmbH lifted its stake in TeraWulf Inc. (NASDAQ:WULF) by 57.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,735 shares of the company’s stock after purchasing an additional 420,572 shares during the period. BIT Capital GmbH’s holdings in TeraWulf were worth $13,302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WULF. Advisory Services Network LLC purchased a new stake in TeraWulf in the 3rd quarter worth $29,000. 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 buying an additional 12,370 shares in the last quarter. Activest Wealth Management purchased a new stake in TeraWulf in the 4th quarter worth $46,000. Rafferty Asset Management LLC purchased a new stake in TeraWulf in the 2nd quarter worth $53,000. Finally, Russell Investments Group Ltd. increased its stake in TeraWulf by 34.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 14,018 shares of the company’s stock worth $61,000 after buying an additional 3,601 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WULF shares. Northland Securities set a $30.00 price target on TeraWulf in a research note on Monday, May 4th. Morgan Stanley set a $66.50 price target on TeraWulf in a research note on Wednesday. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Roth Mkm reiterated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Finally, Cantor Fitzgerald raised their price objective on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.72.

Insider Transactions at TeraWulf

In other news, CFO Patrick Fleury sold 573,586 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the transaction, the chief financial officer directly owned 3,205,000 shares of the company’s stock, valued at approximately $51,728,700. This trade represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction dated Friday, March 20th. The shares were bought 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 approximately $4,211,982.08. This trade represents a 0.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Stock Down 8.4%

Shares of NASDAQ WULF opened at $24.00 on Friday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $11.89 billion, a P/E ratio of -9.68 and a beta of 3.82. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $27.47. The firm has a 50-day simple moving average of $21.07 and a two-hundred day simple moving average of $16.63.

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

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.