Hodges Capital Management Inc. Has $36.10 Million Position in TeraWulf Inc. $WULF

Hodges Capital Management Inc. decreased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,501,589 shares of the company’s stock after selling 364,955 shares during the quarter. TeraWulf makes up approximately 3.0% of Hodges Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Hodges Capital Management Inc. owned 0.57% of TeraWulf worth $36,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of TeraWulf by 37.4% during the fourth 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 during the last quarter. Voloridge Investment Management LLC bought a new position in TeraWulf in the 3rd quarter valued at approximately $69,006,000. Wellington Management Group LLP boosted its position in TeraWulf by 36,193.2% during the 3rd 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 during the period. Marshall Wace LLP boosted its position in TeraWulf by 574.2% during the 4th 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 during the period. Finally, Bank of America Corp DE grew its holdings in TeraWulf by 22.2% during 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 last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WULF shares. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of TeraWulf in a research note on Monday, May 11th. Morgan Stanley set a $66.50 target price on TeraWulf in a research report on Wednesday, June 3rd. Sanford C. Bernstein started coverage on TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price on the stock. Arete Research initiated coverage on TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Citigroup began coverage on TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price target for the company. Two research 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 given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.10.

Insider Activity

In other news, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 520,850 shares of company stock worth $12,221,864. 15.90% of the stock is owned by corporate insiders.

TeraWulf Price Performance

TeraWulf stock opened at $21.18 on Monday. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of -8.54 and a beta of 3.73. TeraWulf Inc. has a 52-week low of $4.52 and a 52-week high of $29.84. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50 day moving average price is $24.43 and its two-hundred day moving average price is $18.35.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate 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 prior year, the firm earned ($0.16) EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that TeraWulf Inc. will post -0.96 earnings per share for the current year.

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.