Brooklands Fund Management Ltd Buys Shares of 30,000 TeraWulf Inc. $WULF

Brooklands Fund Management Ltd bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $69,006,000. Wellington Management Group LLP increased its holdings in shares of TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after purchasing an additional 3,891,127 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of TeraWulf by 574.2% in the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after purchasing an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the firm’s 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 1,665 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $15.04 per share, with a total value of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares of the company’s stock, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 4,916 shares of company stock valued at $74,989 and have sold 520,850 shares valued at $10,778,114. Company insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on WULF shares. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of TeraWulf in a report on Monday, May 11th. Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Thursday, June 4th. Finally, Arete Research began coverage on TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 price objective 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 company’s stock. Based on data from MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.86.

TeraWulf Trading Up 8.1%

Shares of TeraWulf stock opened at $28.17 on Tuesday. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of -11.36 and a beta of 3.82. TeraWulf Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $28.45. 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 has a 50 day moving average of $22.39 and a 200 day moving average of $17.23.

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 the consensus estimate of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) earnings per share. As a group, research analysts predict 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.