Public Employees Retirement System of Ohio Purchases Shares of 103,048 TeraWulf Inc. $WULF

Public Employees Retirement System of Ohio acquired a new position in shares of TeraWulf Inc. (NASDAQ:WULF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,048 shares of the company’s stock, valued at approximately $2,545,000.

A number of other hedge funds have also bought and sold shares of WULF. Comerica Bank boosted its stake in TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares in the last quarter. Millennium Management LLC increased its stake in TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning raised its holdings in shares of TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after purchasing an additional 33,317 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after purchasing an additional 5,432 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. B. Riley Financial raised their price objective on TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods decreased their price objective on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein began coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Stock Up 1.7%

Shares of NASDAQ:WULF opened at $16.51 on Friday. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of -3.78 and a beta of 3.70. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12-month low of $8.70 and a 12-month high of $29.84. The business’s 50 day moving average is $18.34 and its 200 day moving average is $19.67.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the transaction, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 405,626 shares of company stock worth $7,980,928 in the last quarter. 15.90% of the stock is currently owned by corporate insiders.

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.