Wellington Management Group LLP Trims Stake in TeraWulf Inc. $WULF

Wellington Management Group LLP lowered its holdings in TeraWulf Inc. (NASDAQ:WULF) by 97.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,041 shares of the company’s stock after selling 1,153,552 shares during the quarter. Wellington Management Group LLP’s holdings in TeraWulf were worth $68,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Seven Mile Advisory purchased a new stake in TeraWulf in the first quarter valued at $153,000. Cresset Asset Management LLC raised its position in TeraWulf by 3,930.6% in the first quarter. Cresset Asset Management LLC now owns 880,687 shares of the company’s stock valued at $2,404,000 after purchasing an additional 858,837 shares during the period. RR Advisors LLC purchased a new stake in TeraWulf in the first quarter valued at $1,527,000. Nuveen LLC purchased a new stake in TeraWulf in the first quarter valued at $1,770,000. Finally, CenterBook Partners LP raised its position in TeraWulf by 106.7% in the first quarter. CenterBook Partners LP now owns 122,170 shares of the company’s stock valued at $334,000 after purchasing an additional 63,066 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WULF. Rosenblatt Securities boosted their price objective on TeraWulf from $10.50 to $12.00 and gave the company a “buy” rating in a report on Friday, August 22nd. B. Riley boosted their price objective on TeraWulf from $8.00 to $14.00 and gave the company a “buy” rating in a report on Monday, August 18th. Citizens Jmp upgraded TeraWulf to a “strong-buy” rating and set a $7.00 price objective on the stock in a report on Thursday, May 22nd. Wall Street Zen downgraded TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, August 24th. Finally, Cantor Fitzgerald boosted their price objective on TeraWulf from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.22.

Insider Buying and Selling

In related news, Director Amanda Fabiano sold 4,600 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 40,769 shares of the company’s stock, valued at $352,244.16. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.48% of the stock is owned by insiders.

TeraWulf Trading Up 1.9%

WULF opened at $9.63 on Wednesday. TeraWulf Inc. has a 12 month low of $2.06 and a 12 month high of $10.71. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -27.51 and a beta of 3.36. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day moving average price of $6.16 and a 200 day moving average price of $4.36.

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

TeraWulf Profile

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.