First Dallas Securities Inc. Cuts Stock Position in TeraWulf Inc. $WULF

First Dallas Securities Inc. lessened its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,750 shares of the company’s stock after selling 26,250 shares during the quarter. First Dallas Securities Inc.’s holdings in TeraWulf were worth $2,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new position in TeraWulf in the 3rd quarter worth $29,000. Vermillion Wealth Management Inc. increased its stake in shares of TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new position in TeraWulf during the 4th quarter worth $34,000. Comerica Bank increased its position in shares of 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 purchasing an additional 12,370 shares during the last quarter. Finally, First United Bank & Trust acquired a new stake in shares of TeraWulf in the 1st quarter valued at about $37,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WULF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Roth Mkm reiterated a “buy” rating and set a $32.00 target price on shares of TeraWulf in a research note on Friday, April 17th. Jefferies Financial Group began coverage on shares of TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target on the stock. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and an average price target of $32.10.

TeraWulf Price Performance

Shares of WULF opened at $21.18 on Friday. The company has a market cap of $10.50 billion, a P/E ratio of -8.54 and a beta of 3.73. The stock has a fifty day moving average price of $24.43 and a 200 day moving average price of $18.31. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. TeraWulf Inc. has a 12 month low of $4.52 and a 12 month high of $29.84.

TeraWulf (NASDAQ:WULF) last posted 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 net margin of 611.46% and a negative return on equity of 305.07%. The company had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts forecast 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.