Exchange Traded Concepts LLC Sells 259,959 Shares of TeraWulf Inc. $WULF

Exchange Traded Concepts LLC lessened its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,248,014 shares of the company’s stock after selling 259,959 shares during the period. Exchange Traded Concepts LLC’s holdings in TeraWulf were worth $14,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Two Seas Capital LP boosted its stake in TeraWulf by 966.9% during the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after acquiring an additional 2,072,729 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of TeraWulf by 420.6% during the third quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock valued at $4,291,000 after purchasing an additional 303,583 shares in the last quarter. Thames Capital Management LLC lifted its holdings in shares of TeraWulf by 27.7% during the third quarter. Thames Capital Management LLC now owns 1,449,091 shares of the company’s stock valued at $16,549,000 after purchasing an additional 314,402 shares during the last quarter. First Dallas Securities Inc. lifted its holdings in shares of TeraWulf by 99.2% during the third quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock valued at $3,015,000 after purchasing an additional 131,500 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of TeraWulf in the 3rd quarter worth approximately $3,350,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TeraWulf

In other TeraWulf news, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the sale, the chief financial officer directly owned 3,205,000 shares in the company, valued at approximately $51,728,700. This trade represents a 15.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $16.10, for a total value of $2,213,750.00. Following the completion of the sale, the chief executive officer directly owned 354,200 shares of the company’s stock, valued at approximately $5,702,620. The trade was a 27.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 13,094 shares of company stock valued at $200,392 and have sold 737,500 shares valued at $11,897,750. 19.90% of the stock is currently owned by insiders.

TeraWulf Trading Down 3.0%

NASDAQ:WULF opened at $14.89 on Friday. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -9.13 and a beta of 3.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. The company’s 50 day moving average price is $15.18 and its 200-day moving average price is $13.77. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $18.51.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WULF shares. Morgan Stanley started coverage on TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 price target on the stock. Cantor Fitzgerald boosted their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Rosenblatt Securities reissued a “buy” rating and issued a $23.00 target price on shares of TeraWulf in a research note on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lowered their price target on TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.29.

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.