TeraWulf (NASDAQ:WULF – Get Free Report) was upgraded by equities researchers at Citigroup to a “strong-buy” rating in a report released on Monday,Zacks.com reports.
Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald lifted their price objective on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Northland Securities set a $30.00 target price on TeraWulf in a research note on Monday, May 4th. Needham & Company LLC raised their price target on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lifted their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, B. Riley Financial upped their price objective on TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and a consensus target price of $32.10.
Get Our Latest Stock Analysis on TeraWulf
TeraWulf Stock Down 3.4%
TeraWulf (NASDAQ:WULF – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts predict that TeraWulf will post -0.96 EPS for the current year.
Insider Activity at TeraWulf
In related news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 383,350 shares of company stock worth $8,564,364. 15.90% of the stock is owned by insiders.
Institutional Trading of TeraWulf
A number of institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in TeraWulf in the third quarter valued at $29,000. Vermillion Wealth Management Inc. raised its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the last quarter. Solstein Capital LLC purchased a new stake in shares of TeraWulf in the 4th quarter worth about $34,000. Comerica Bank grew its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the last quarter. Finally, First United Bank & Trust acquired a new stake in TeraWulf in the 1st quarter valued at about $37,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
TeraWulf Company 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.
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