Arlington Capital Management Inc. Purchases 29,010 Shares of TeraWulf Inc. $WULF

Arlington Capital Management Inc. increased its position in shares of TeraWulf Inc. (NASDAQ:WULF) by 15.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 213,115 shares of the company’s stock after purchasing an additional 29,010 shares during the quarter. TeraWulf comprises approximately 1.7% of Arlington Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Arlington Capital Management Inc.’s holdings in TeraWulf were worth $3,075,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WULF. Advisory Services Network LLC bought a new stake in shares of TeraWulf in the third quarter valued at about $29,000. First United Bank & Trust acquired a new stake in TeraWulf in the 1st quarter worth about $37,000. Vermillion Wealth Management Inc. boosted its holdings in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new position in shares of TeraWulf during the first quarter worth approximately $48,000. 62.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Roth Capital reissued a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. B. Riley Financial raised their price target on TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Northland Securities set a $30.00 target price on shares of TeraWulf in a report on Monday, May 4th. Finally, Arete Research initiated coverage on shares of TeraWulf in a research report on Monday, March 23rd. They issued a “buy” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

TeraWulf Price Performance

Shares of WULF traded down $1.23 during mid-day trading on Friday, reaching $21.97. The company had a trading volume of 30,859,358 shares, compared to its average volume of 31,690,438. The company’s 50 day simple moving average is $24.59 and its 200 day simple moving average is $18.65. TeraWulf Inc. has a 1-year low of $4.64 and a 1-year 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 company has a market capitalization of $10.89 billion, a price-to-earnings ratio of -8.86 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) EPS. Analysts expect that TeraWulf Inc. will post -1.09 EPS for the current year.

Insider Activity at TeraWulf

In related 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 sale, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is currently owned by corporate 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.