Strait & Sound Wealth Management LLC Buys Shares of 15,800 TeraWulf Inc. $WULF

Strait & Sound Wealth Management LLC bought a new stake in shares of TeraWulf Inc. (NASDAQ:WULF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,800 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds have also added to or reduced their stakes in WULF. Little House Capital LLC purchased a new position in TeraWulf during the 1st quarter valued at about $43,000. Teacher Retirement System of Texas purchased a new position in TeraWulf during the 1st quarter valued at about $115,000. Calamos Advisors LLC purchased a new position in TeraWulf during the 1st quarter valued at about $33,000. Brown Advisory Inc. grew its holdings in TeraWulf by 126.8% during the 1st quarter. Brown Advisory Inc. now owns 41,055 shares of the company’s stock valued at $112,000 after buying an additional 22,955 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in TeraWulf during the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

WULF stock opened at $13.71 on Friday. The firm has a market cap of $5.59 billion, a P/E ratio of -39.17 and a beta of 3.44. The firm’s fifty day moving average is $11.21 and its 200 day moving average is $6.59. TeraWulf Inc. has a 52 week low of $2.06 and a 52 week high of $16.19. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $47.64 million for the quarter, compared to analysts’ expectations of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) earnings per share. Research analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at TeraWulf

In related news, Director Amanda Fabiano sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the transaction, the director directly owned 40,769 shares in the company, valued at $352,244.16. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WULF. Wall Street Zen lowered TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “sell (e+)” rating on shares of TeraWulf in a report on Friday. Roth Capital boosted their price objective on TeraWulf from $7.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, August 15th. UBS Group set a $18.25 price objective on TeraWulf in a report on Friday. Finally, Compass Point began coverage on TeraWulf in a report on Monday, September 15th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and a consensus price target of $13.35.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.