First Dallas Securities Inc. Sells 84,000 Shares of TeraWulf Inc. $WULF

by · The Markets Daily

First Dallas Securities Inc. lessened its position in TeraWulf Inc. (NASDAQ:WULF – Free Report) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,000 shares of the company’s stock after selling 84,000 shares during the period. First Dallas Securities Inc.’s holdings in TeraWulf were worth $2,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of TeraWulf by 45.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its position in shares of TeraWulf by 178.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after acquiring an additional 96,843 shares during the period. Quantbot Technologies LP bought a new stake in shares of TeraWulf during the 3rd quarter worth about $3,350,000. Finally, GSA Capital Partners LLP bought a new stake in shares of TeraWulf during the 3rd quarter worth about $885,000. Institutional investors own 62.49% of the company’s stock.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella acquired 1,665 shares of the company’s stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the purchase, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction dated 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders acquired 6,500 shares of company stock worth $100,333 and sold 1,120,850 shares worth $20,462,114. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Stock Performance

Shares of WULF stock opened at $25.30 on Wednesday. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of -10.20 and a beta of 3.82. 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 50-day simple moving average of $21.48 and a 200 day simple moving average of $16.86. TeraWulf Inc. has a 52 week low of $3.39 and a 52 week high of $27.78.

TeraWulf (NASDAQ:WULF – Get Free Report) 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). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter last year, the firm earned ($0.16) EPS. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts predict that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on WULF shares. Needham & Company LLC lifted their target price on shares of TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Sanford C. Bernstein started coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Cantor Fitzgerald lifted their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They set a “buy” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.72.

Read Our Latest Research Report on WULF

About TeraWulf

(Free Report)

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.

See Also

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