TeraWulf (NASDAQ:WULF) Upgraded to “Strong-Buy” at Sanford C. Bernstein

TeraWulf (NASDAQ:WULF) was upgraded by equities research analysts at Sanford C. Bernstein to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on WULF. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price target on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.72.

TeraWulf Price Performance

NASDAQ WULF opened at $26.19 on Wednesday. TeraWulf has a 1 year low of $3.39 and a 1 year high of $27.47. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $12.98 billion, a price-to-earnings ratio of -10.56 and a beta of 3.82. The stock’s fifty day moving average price is $20.92 and its 200 day moving average price is $16.58.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $34.69 million. During the same period in the previous year, the company posted ($0.16) earnings per share. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that TeraWulf will post -1.04 earnings per share for the current year.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 1,665 shares of the stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $15.04 per share, with a total value of $25,041.60. Following the purchase, the director directly owned 280,052 shares in the company, valued at $4,211,982.08. The trade was a 0.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $426,321.96. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in TeraWulf by 25.6% in the 1st quarter. NewEdge Advisors LLC now owns 66,460 shares of the company’s stock valued at $959,000 after buying an additional 13,527 shares in the last quarter. Honeycomb Asset Management LP purchased a new position in TeraWulf in the 1st quarter valued at about $722,000. Glenmede Trust Co. NA purchased a new position in TeraWulf in the 1st quarter valued at about $315,000. Vestor Capital LLC purchased a new position in TeraWulf in the 1st quarter valued at about $1,954,000. Finally, Royal Fund Management LLC lifted its stake in TeraWulf by 122.3% in the 1st quarter. Royal Fund Management LLC now owns 41,687 shares of the company’s stock valued at $602,000 after buying an additional 22,937 shares in the last quarter. 62.49% of the stock is 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.