CastleKnight Management LP Sells 243,000 Shares of TeraWulf Inc. $WULF

CastleKnight Management LP cut its stake in TeraWulf Inc. (NASDAQ:WULF) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 509,300 shares of the company’s stock after selling 243,000 shares during the period. CastleKnight Management LP owned 0.12% of TeraWulf worth $5,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after buying an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf during the third quarter worth approximately $69,006,000. Wellington Management Group LLP raised its stake in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after buying an additional 3,891,127 shares during the last quarter. Marshall Wace LLP raised its stake in shares of TeraWulf by 574.2% during the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after buying an additional 2,713,587 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after buying an additional 2,617,617 shares during the last quarter. 62.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WULF shares. Arete Research started coverage on shares of TeraWulf in a research note on Monday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. Northland Securities set a $30.00 price target on shares of TeraWulf in a research note on Monday, May 4th. Jefferies Financial Group started coverage on shares of TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 price target for the company. Roth Mkm reissued a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Finally, B. Riley Financial boosted their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.86.

TeraWulf Stock Down 0.5%

Shares of NASDAQ WULF opened at $27.86 on Thursday. The stock has a market cap of $13.81 billion, a P/E ratio of -11.23 and a beta of 3.82. The firm has a 50 day moving average price of $22.90 and a 200 day moving average price of $17.42. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a 52-week low of $3.39 and a 52-week high of $29.30.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Analysts expect that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael C. Bucella acquired 1,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the acquisition, the director owned 280,052 shares in the company, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This 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 90 days, insiders have sold 520,850 shares of company stock valued at $10,778,114. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Company 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.