Invesco Ltd. Reduces Position in TeraWulf Inc. $WULF

Invesco Ltd. cut its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 63.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 313,508 shares of the company’s stock after selling 536,200 shares during the period. Invesco Ltd. owned approximately 0.08% of TeraWulf worth $856,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. CoreCap Advisors LLC boosted its position in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after buying an additional 3,054 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of TeraWulf by 4.8% during the fourth quarter. Voya Investment Management LLC now owns 78,815 shares of the company’s stock valued at $446,000 after buying an additional 3,628 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in TeraWulf by 18.5% in the first quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company’s stock valued at $86,000 after acquiring an additional 4,920 shares during the period. SG Americas Securities LLC lifted its holdings in TeraWulf by 6.2% in the first quarter. SG Americas Securities LLC now owns 130,322 shares of the company’s stock valued at $356,000 after acquiring an additional 7,597 shares during the period. Finally, Florida Financial Advisors LLC lifted its holdings in TeraWulf by 65.1% in the first quarter. Florida Financial Advisors LLC now owns 21,280 shares of the company’s stock valued at $58,000 after acquiring an additional 8,392 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WULF. Wall Street Zen downgraded TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, August 24th. Roth Capital increased their target price on TeraWulf from $7.00 to $12.50 and gave the company a “buy” rating in a report on Friday, August 15th. Cantor Fitzgerald increased their target price on TeraWulf from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. B. Riley increased their target price on TeraWulf from $8.00 to $14.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, JMP Securities increased their target price on TeraWulf from $7.00 to $13.00 and gave the company a “market outperform” rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and a consensus target price of $11.22.

TeraWulf Stock Performance

NASDAQ:WULF opened at $8.98 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $10.71. The stock has a 50-day moving average price of $6.27 and a 200 day moving average price of $4.39. The stock has a market capitalization of $3.66 billion, a P/E ratio of -25.66 and a beta of 3.36.

TeraWulf (NASDAQ:WULF) last released its 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). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The business had revenue of $47.64 million for the quarter, compared to analysts’ expectations of $46.30 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other TeraWulf 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 completion of the transaction, the director 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 filing with the SEC, which is available through this link. Corporate insiders own 16.48% of the company’s stock.

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.