Clearbridge Investments LLC Has $9.65 Million Position in TeraWulf Inc. $WULF

Clearbridge Investments LLC lowered its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,662 shares of the company’s stock after selling 181,754 shares during the quarter. Clearbridge Investments LLC owned about 0.20% of TeraWulf worth $9,648,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in TeraWulf during the third quarter worth approximately $29,000. Vermillion Wealth Management Inc. raised its stake in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares in the last quarter. Activest Wealth Management acquired a new position in TeraWulf in the fourth quarter valued at about $46,000. PNC Financial Services Group Inc. raised its stake in TeraWulf by 116.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock valued at $61,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in TeraWulf by 1,184.2% in the fourth quarter. Global Retirement Partners LLC now owns 5,702 shares of the company’s stock valued at $66,000 after purchasing an additional 5,258 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Down 8.3%

Shares of NASDAQ:WULF opened at $23.19 on Thursday. The company has a fifty day moving average of $21.67 and a 200-day moving average of $16.94. The company has a market capitalization of $11.49 billion, a PE ratio of -9.35 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a 52-week low of $3.39 and a 52-week high of $27.78.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results 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). 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 quarter last year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Insider Activity

In other news, CFO Patrick Fleury sold 26,414 shares of TeraWulf stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a research note on Thursday, June 4th. Jefferies Financial Group started coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price target on the stock. B. Riley Financial increased their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. Finally, Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and a consensus price target of $31.72.

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.