Insider Selling: TeraWulf (NASDAQ:WULF) Director Sells $1,977,677.64 in Stock

TeraWulf Inc. (NASDAQ:WULFGet Free Report) Director Walter Carter sold 130,626 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares in the company, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TeraWulf Trading Up 9.5%

TeraWulf stock opened at $16.23 on Friday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $8.10 billion, a PE ratio of -3.71 and a beta of 3.70. The stock has a 50-day moving average of $18.52 and a two-hundred day moving average of $19.70. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84.

TeraWulf (NASDAQ:WULFGet Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. On average, research analysts anticipate that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. William Blair began coverage on shares of TeraWulf in a report on Friday, August 28th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Chardan Capital reissued a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research report on Wednesday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research report on Wednesday, July 15th. Finally, Compass Point set a $40.00 price target on TeraWulf in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

Read Our Latest Analysis on WULF

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in WULF. GAMMA Investing LLC raised its holdings in shares of TeraWulf by 25.2% during the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after purchasing an additional 681 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. Franklin Resources Inc. boosted its holdings in TeraWulf by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after purchasing an additional 1,259 shares during the last quarter. IFP Advisors Inc grew its position in TeraWulf by 14.5% during the 4th quarter. IFP Advisors Inc now owns 12,378 shares of the company’s stock worth $142,000 after purchasing an additional 1,563 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in TeraWulf during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for TeraWulf (NASDAQ:WULF)

Receive News & Ratings for TeraWulf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TeraWulf and related companies with MarketBeat.com's FREE daily email newsletter.