Shares of TeraWulf Inc. (NASDAQ:WULF – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.05.
A number of research firms recently weighed in on WULF. Wells Fargo & Company assumed coverage on TeraWulf in a research report on Thursday, September 17th. They set an “overweight” rating and a $30.00 price objective for the company. Morgan Stanley raised their price target on TeraWulf from $62.50 to $65.00 and gave the company an “overweight” rating in a report on Friday, October 9th. UBS Group started coverage on TeraWulf in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price target for the company. TD Cowen started coverage on TeraWulf in a research report on Monday, October 12th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Zacks Research cut shares of TeraWulf from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th.
Read Our Latest Stock Report on TeraWulf
TeraWulf Trading Down 5.0%
NASDAQ:WULF opened at $12.75 on Friday. The firm has a market capitalization of $6.36 billion, a P/E ratio of -2.92 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf has a one year low of $10.35 and a one year high of $29.84. The company’s 50-day simple moving average is $14.77 and its 200 day simple moving average is $18.02.
TeraWulf (NASDAQ:WULF – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 for the quarter, compared to the consensus estimate of $46.00 million. During the same period in the prior year, the business posted ($0.05) EPS. TeraWulf’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts forecast that TeraWulf will post -1.04 EPS for the current fiscal year.
Insiders Place Their Bets
In other TeraWulf news, Director Walter Carter sold 130,626 shares of TeraWulf 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 completion of the transaction, the director directly owned 229,090 shares of the company’s stock, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders bought 11,968 shares of company stock valued at $189,962. Insiders own 15.90% of the company’s stock.
Institutional Trading of TeraWulf
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of TeraWulf during the second quarter valued at approximately $577,805,000. Bank of America Corp DE purchased a new stake in TeraWulf in the second quarter worth approximately $140,057,000. Jennison Associates LLC bought a new stake in TeraWulf in the 1st quarter worth approximately $53,418,000. Engle Capital Management L.P. grew its position in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in TeraWulf in the 2nd quarter worth approximately $61,962,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
About TeraWulf
TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.
TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.
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