The Vanguard Group, Inc. recently announced the acquisition of new stake in TeraWulf Inc (NASDAQ:WULF). The institutional investor has increased its shareholding in the Financial company by 10.11% to 9.66 million shares with purchase of 0.89 million shares. This fresh investment now brings its stake to 4.06% valued currently at $11.21 million. In addition, BlackRock Fund Advisors raised its holdings by 3.7 million to 8.53 million shares. And Geode Capital Management LLC has lifted its position by 43.88% or 0.98 million shares – to 3.2 million shares.
With over 21.65 million TeraWulf Inc (WULF) shares trading Friday and a closing price of $1.93 on the day, the dollar volume was approximately $41.79 million. The shares have shown a negative half year performance of -26.89% and its price on 01/05/24 lost nearly -11.87%. Currently, there are 145.49M common shares owned by the public and among those 144.90M shares have been available to trade.
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Insiders at the company have transacted a total of 77 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 33,163,082 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 39,084,536 shares.
The top 3 mutual fund holders in TeraWulf Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Information Technology I. Vanguard Total Stock Market ETF owns 4.85 million shares of the company’s stock, all valued at over $5.62 million. iShares Russell 2000 ETF bought 1677.0 shares to see its total holdings expand to 3.41 million shares valued at over $3.96 million and representing 1.43% of the shares outstanding. Vanguard Information Technology I bought 81741.0 shares to bring its total holdings to over 2.31 million shares at a value of $2.67 million. Vanguard Information Technology I now owns shares totaling to 0.97% of the shares outstanding.
Shares of TeraWulf Inc (NASDAQ: WULF) opened at $2.12, down -$0.07 from a prior closing price of $2.19. However, the script later moved the day high at 2.1300, down -11.87%. The company’s stock has a 5-day price change of -36.09% and 87.38% over the past three months. WULF shares are trading -19.58% year to date (YTD), with the 12-month market performance up to 139.42% higher. It has a 12-month low price of $0.54 and touched a high of $4.04 over the same period. WULF has an average intraday trading volume of 14.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.02%, 29.36%, and 12.42% respectively.
Institutional ownership of TeraWulf Inc (NASDAQ: WULF) shares accounts for 19.40% of the company’s 145.49M shares outstanding. Mutual fund holders own 38.70%, while other institutional holders and individual stakeholders account for 7.68% and 12.44% respectively.
It has a market capitalization of $464.96M and a beta (3y monthly) value of 2.24. The earnings-per-share (ttm) stands at -$0.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 22.54% over the week and 15.52% over the month.
Analysts forecast that TeraWulf Inc (WULF) will achieve an EPS of -$0.03 for the current quarter, -$0.01 for the next quarter and -$0.06 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 61.75%, and 90.81% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate TeraWulf Inc (WULF) as a “Strong Buy” at a consensus score of 1.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the WULF, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on October 18, 2023, with the firm’s price target at $3.
