TeraWulf Inc. (NASDAQ:WULF – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $16.20, but opened at $16.92. TeraWulf shares last traded at $17.3630, with a volume of 5,131,679 shares trading hands.
Analyst Ratings Changes
Several equities research analysts have weighed in on WULF shares. Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Sanford C. Bernstein started coverage on TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target for the company. B. Riley Financial increased their price objective on TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Citigroup initiated coverage on shares of TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and an average price target of $34.74.
View Our Latest Stock Report on WULF
TeraWulf Price Performance
TeraWulf (NASDAQ:WULF – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 512.60% and a negative net margin of 1,179.94%.The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, analysts expect that TeraWulf Inc. will post -1 EPS for the current year.
Insider Activity at TeraWulf
In related news, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the transaction, the chief executive officer owned 3,945,052 shares in the company, valued at $104,938,383.20. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company’s stock.
Institutional Investors Weigh In On TeraWulf
Several hedge funds have recently modified their holdings of WULF. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the 3rd quarter worth $29,000. Vermillion Wealth Management Inc. increased its stake in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf during the fourth quarter worth about $34,000. Comerica Bank raised its holdings 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 purchasing an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.
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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