AlTi Global Inc. Trims Stock Holdings in TeraWulf Inc. $WULF

AlTi Global Inc. lowered its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 36.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 259,934 shares of the company’s stock after selling 149,913 shares during the quarter. AlTi Global Inc.’s holdings in TeraWulf were worth $3,751,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Millennium Management LLC lifted its stake in TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after acquiring an additional 793,832 shares during the period. Envestnet Asset Management Inc. lifted its stake in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after acquiring an additional 2,258 shares during the period. Creative Planning boosted its holdings in shares of TeraWulf by 232.2% in the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after acquiring an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of TeraWulf by 10.6% in the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after acquiring an additional 5,432 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

TeraWulf stock opened at $18.16 on Monday. The firm has a market cap of $9.00 billion, a PE ratio of -7.32 and a beta of 3.73. TeraWulf Inc. has a 12 month low of $4.64 and a 12 month high of $29.84. The stock’s 50 day simple moving average is $24.14 and its two-hundred day simple moving average is $18.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last posted its earnings results 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 firm had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. During the same period last year, the firm earned ($0.16) earnings per share. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that TeraWulf Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock worth $12,221,864 in the last quarter. 15.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Compass Point set a $40.00 target price on shares of TeraWulf in a report on Monday, July 6th. Needham & Company LLC upped their price target on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price target on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of TeraWulf in a research report on Wednesday, July 15th. Finally, Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.