Ardsley Advisory Partners LP Has $13.39 Million Stock Position in TeraWulf Inc. $WULF

Ardsley Advisory Partners LP decreased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,165,000 shares of the company’s stock after selling 35,000 shares during the quarter. TeraWulf comprises approximately 1.5% of Ardsley Advisory Partners LP’s investment portfolio, making the stock its 19th biggest holding. Ardsley Advisory Partners LP owned about 0.28% of TeraWulf worth $13,386,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of TeraWulf during the third quarter worth about $69,006,000. Wellington Management Group LLP grew its holdings in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of TeraWulf by 574.2% during the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after buying an additional 2,713,587 shares in the last quarter. Finally, Bank of America Corp DE raised its position in TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael C. Bucella purchased 1,665 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $15.04 per share, with a total value of $25,041.60. Following 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock valued at $10,778,114 in the last three months. 15.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WULF shares. Keefe, Bruyette & Woods upped their price objective on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Needham & Company LLC raised their target price on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Jefferies Financial Group initiated coverage on TeraWulf in a report on Thursday, May 14th. They set a “buy” rating and a $28.00 price target for the company. Finally, Roth Mkm restated a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.86.

TeraWulf Price Performance

WULF stock opened at $27.86 on Thursday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of -11.23 and a beta of 3.82. 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 50 day simple moving average of $22.90 and a 200 day simple moving average of $17.42. TeraWulf Inc. has a 1 year low of $3.39 and a 1 year high of $29.30.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share 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 firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts anticipate that TeraWulf Inc. will post -0.96 EPS for the current fiscal 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.