Short Interest in TeraWulf Inc. (NASDAQ:WULF) Increases By 38.5%

TeraWulf Inc. (NASDAQ:WULF) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 32,600,000 shares, a growth of 38.5% from the May 31st total of 23,530,000 shares. Based on an average trading volume of 19,190,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 13.6% of the shares of the stock are sold short.

Insider Transactions at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the sale, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after purchasing an additional 6,450 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of TeraWulf during the 1st quarter valued at $29,000. Apollon Wealth Management LLC acquired a new stake in TeraWulf in the fourth quarter worth $27,000. Delta Financial Group Inc. increased its stake in TeraWulf by 33.6% in the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock valued at $116,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Partners Capital Investment Group LLP acquired a new position in shares of TeraWulf during the fourth quarter valued at about $29,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Stock Performance

TeraWulf stock opened at $4.45 on Friday. TeraWulf has a 52-week low of $0.89 and a 52-week high of $5.19. The firm has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.33.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $42.43 million for the quarter, compared to the consensus estimate of $41.86 million. TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. Equities analysts expect that TeraWulf will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WULF shares. Rosenblatt Securities started coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price for the company. B. Riley lifted their target price on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday. Compass Point reduced their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their price target on shares of TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.99.

TeraWulf Company 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.