Exchange Traded Concepts LLC Sells 259,959 Shares of TeraWulf Inc. $WULF

Exchange Traded Concepts LLC cut its stake in shares of TeraWulf Inc. (NASDAQ:WULF) by 17.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,248,014 shares of the company’s stock after selling 259,959 shares during the quarter. Exchange Traded Concepts LLC owned 0.30% of TeraWulf worth $14,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of TeraWulf in the third quarter worth approximately $29,000. Advisors Asset Management Inc. grew its holdings in shares of TeraWulf by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after purchasing an additional 2,748 shares during the last quarter. Comerica Bank increased its stake in shares of TeraWulf by 3,748.5% in 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 period. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of TeraWulf in the second quarter worth $41,000. 62.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WULF has been the subject of a number of recent analyst reports. Arete Research assumed coverage on shares of TeraWulf in a report on Monday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of TeraWulf in a research note on Thursday, March 19th. Finally, Cantor Fitzgerald increased their target price on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average price target of $21.29.

Insider Buying and Selling

In other news, Director Michael C. Bucella bought 3,171 shares of TeraWulf stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $15.78 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the transaction, the chief financial officer directly owned 3,205,000 shares of the company’s stock, valued at $51,728,700. This represents a 15.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 13,094 shares of company stock valued at $200,392 and sold 737,500 shares valued at $11,897,750. 19.90% of the stock is owned by insiders.

TeraWulf Stock Down 3.0%

Shares of TeraWulf stock opened at $14.89 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a 12-month low of $2.06 and a 12-month high of $18.51. The company has a market cap of $6.31 billion, a P/E ratio of -9.13 and a beta of 3.67. The company’s fifty day simple moving average is $15.18 and its two-hundred day simple moving average is $13.77.

About TeraWulf

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.