Caitong International Asset Management Co. Ltd Boosts Stock Position in TeraWulf Inc. $WULF

Caitong International Asset Management Co. Ltd grew its position in TeraWulf Inc. (NASDAQ:WULF) by 421.7% during the 4th quarter, HoldingsChannel reports. The fund owned 81,632 shares of the company’s stock after purchasing an additional 65,986 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in TeraWulf were worth $938,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of TeraWulf in the 3rd quarter valued at about $29,000. Vermillion Wealth Management Inc. lifted its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC purchased a new stake in TeraWulf in the 4th quarter worth approximately $34,000. Activest Wealth Management acquired a new stake in shares of TeraWulf during the 4th quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. raised its position in shares of TeraWulf by 116.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $61,000 after acquiring an additional 2,874 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of research reports. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research note on Thursday, June 4th. Cantor Fitzgerald increased their price target on shares of TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a research note on Wednesday, May 27th. Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price target on shares of TeraWulf in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and an average target price of $31.86.

TeraWulf Stock Performance

NASDAQ WULF opened at $28.98 on Friday. The firm’s fifty day moving average is $23.37 and its two-hundred day moving average is $17.59. TeraWulf Inc. has a one year low of $3.39 and a one year high of $29.67. 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 firm has a market cap of $14.36 billion, a PE ratio of -11.69 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.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) EPS. TeraWulf’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction 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. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 520,850 shares of company stock valued at $10,778,114. 15.90% of the stock is owned by company insiders.

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.