AlTi Global Inc. Sells 149,913 Shares of TeraWulf Inc. $WULF

AlTi Global Inc. trimmed its position in TeraWulf Inc. (NASDAQ:WULF) by 36.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 259,934 shares of the company’s stock after selling 149,913 shares during the quarter. AlTi Global Inc. owned 0.06% of TeraWulf worth $3,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of TeraWulf during the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. increased its holdings in shares of TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC purchased a new position in shares of TeraWulf in the 4th quarter valued at $34,000. Comerica Bank raised its position in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares in the last quarter. Finally, First United Bank & Trust bought a new position in shares of TeraWulf in the 1st quarter worth $37,000. Institutional investors own 62.49% of the company’s stock.

Insider Activity

In related news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock worth $12,221,864 in the last 90 days. Corporate insiders own 15.90% of the company’s stock.

TeraWulf Price Performance

TeraWulf stock opened at $18.16 on Monday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of -7.32 and a beta of 3.73. TeraWulf Inc. has a 1-year low of $4.64 and a 1-year high of $29.84. The business has a fifty day moving average price of $24.14 and a 200-day moving average price of $18.94.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share. Equities research analysts forecast that TeraWulf Inc. will post -1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WULF has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $30.00 price objective on shares of TeraWulf in a research note on Wednesday, July 15th. Citigroup assumed coverage on TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 target price on the stock. Morgan Stanley boosted their target price on shares of TeraWulf from $66.50 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Arete Research assumed coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

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.