TeraWulf (NASDAQ:WULF) Shares Up 7% – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 7% during mid-day trading on Monday . The company traded as high as $19.75 and last traded at $19.4290. 5,488,530 shares were traded during mid-day trading, a decline of 83% from the average session volume of 31,457,998 shares. The stock had previously closed at $18.16.

Wall Street Analyst Weigh In

WULF has been the subject of a number of research reports. Compass Point set a $40.00 price objective on TeraWulf in a research report on Monday, July 6th. Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Jefferies Financial Group began coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted 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 analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

TeraWulf Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company has a market cap of $9.45 billion, a PE ratio of -7.69 and a beta of 3.73. The firm’s 50-day simple moving average is $24.14 and its two-hundred day simple moving average is $18.94.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. As a group, research analysts anticipate that TeraWulf Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction dated 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 completion of the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 520,850 shares of company stock worth $12,221,864. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in TeraWulf in the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. lifted its stake in TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at $34,000. Comerica Bank increased its stake in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC increased its stake in shares of TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after acquiring an additional 747 shares during the period. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

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.