TeraWulf (NASDAQ:WULF) CEO Paul Prager Sells 137,500 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF – Get Free Report) CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $15.35 on Friday. The business’s fifty day simple moving average is $19.51 and its 200 day simple moving average is $19.70. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf Inc. has a 12 month low of $8.60 and a 12 month high of $29.84. The firm has a market capitalization of $7.66 billion, a P/E ratio of -3.51 and a beta of 3.76.

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TeraWulf (NASDAQ:WULF – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Comerica Bank grew its position in TeraWulf by 3,748.5% during 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 in the last quarter. Millennium Management LLC boosted its position in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after acquiring an additional 793,832 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after purchasing an additional 2,258 shares in the last quarter. Creative Planning increased its position in shares of TeraWulf by 232.2% in the second quarter. Creative Planning now owns 47,665 shares of the company’s stock worth $209,000 after purchasing an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in TeraWulf by 10.6% in the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after purchasing an additional 5,432 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WULF shares. HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Needham & Company LLC lifted their price target on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price objective on shares of TeraWulf in a report on Wednesday, July 15th. Zacks Research upgraded TeraWulf from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Morgan Stanley dropped their price target on TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and an average target price of $34.21.

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TeraWulf Company Profile

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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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