Voya Investment Management LLC Acquires 303,583 Shares of TeraWulf Inc. $WULF

Voya Investment Management LLC raised its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 420.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,754 shares of the company’s stock after purchasing an additional 303,583 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of TeraWulf worth $4,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of TeraWulf by 22.2% during the 2nd 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. Hodges Capital Management Inc. raised its holdings in TeraWulf by 13.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after acquiring an additional 493,001 shares during the period. Tidal Investments LLC lifted its position in TeraWulf by 6.0% during the second quarter. Tidal Investments LLC now owns 2,673,105 shares of the company’s stock worth $11,708,000 after acquiring an additional 150,346 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TeraWulf by 64.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,646,707 shares of the company’s stock worth $11,590,000 after acquiring an additional 1,033,073 shares during the period. Finally, Vident Advisory LLC grew its position in shares of TeraWulf by 5.7% in the second quarter. Vident Advisory LLC now owns 2,500,483 shares of the company’s stock valued at $10,952,000 after purchasing an additional 134,241 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on WULF. Citizens Jmp lifted their price target on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 price objective on shares of TeraWulf in a research report on Tuesday. Wall Street Zen cut shares of TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Northland Securities set a $23.25 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Finally, B. Riley lifted their price objective on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.75.

Insider Activity at TeraWulf

In related news, Director Michael C. Bucella purchased 4,178 shares of TeraWulf stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the purchase, the director owned 266,958 shares in the company, valued at approximately $3,206,165.58. This trade represents a 1.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.90% of the company’s stock.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $12.26 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. The stock has a market capitalization of $5.13 billion, a PE ratio of -8.63 and a beta of 3.83. The firm has a 50 day moving average of $13.64 and a 200-day moving average of $9.78. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $17.05.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The business had revenue of $50.58 million for the quarter, compared to the consensus estimate of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business’s revenue was up 86.9% compared to the same quarter last year. On average, equities research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

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.