Alight Capital Management LP Sells 319,100 Shares of TeraWulf Inc. $WULF

Alight Capital Management LP lessened its holdings in shares of TeraWulf Inc. (NASDAQ:WULF) by 68.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the company’s stock after selling 319,100 shares during the period. Alight Capital Management LP’s holdings in TeraWulf were worth $1,713,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WULF. Steward Partners Investment Advisory LLC lifted its position in shares of TeraWulf by 265.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after purchasing an additional 4,800 shares during the period. Advisors Asset Management Inc. increased its position in shares of TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after buying an additional 2,748 shares during the period. Comerica Bank raised 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 buying an additional 12,370 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in TeraWulf during the second quarter worth $41,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in TeraWulf by 366.2% in the third quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock valued at $41,000 after buying an additional 2,820 shares during the period. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Price Performance

TeraWulf stock opened at $14.67 on Friday. The firm has a 50 day moving average price of $14.72 and a 200-day moving average price of $13.32. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a twelve month low of $2.06 and a twelve month high of $18.51. The company has a market capitalization of $6.22 billion, a P/E ratio of -9.00 and a beta of 3.67.

Insider Transactions at TeraWulf

In related news, Director Michael C. Bucella acquired 3,171 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 6,594 shares of company stock worth $100,059 in the last three months. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WULF. Morgan Stanley initiated coverage on TeraWulf in a research report on Monday, February 9th. They set an “overweight” rating and a $37.00 target price on the stock. Cantor Fitzgerald lifted their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Rosenblatt Securities boosted their price target on TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research report on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.62.

TeraWulf 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.