TeraWulf (NASDAQ:WULF) Upgraded to Strong-Buy at Chardan Capital

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

WULF has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Roth Capital reiterated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research report on Friday, April 17th. Jefferies Financial Group started coverage on shares of TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on shares of TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price target on the stock. Three research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

TeraWulf Stock Down 4.9%

Shares of WULF opened at $17.09 on Monday. The company has a market capitalization of $8.47 billion, a PE ratio of -6.89 and a beta of 3.73. TeraWulf has a 12 month low of $4.64 and a 12 month high of $29.84. The stock’s 50-day moving average price is $23.61 and its two-hundred day moving average price is $19.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share 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 company had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same period in the previous year, the company posted ($0.16) EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts anticipate that TeraWulf will post -1.09 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its holdings in TeraWulf by 4.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 88,200 shares of the company’s stock worth $2,179,000 after acquiring an additional 3,800 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of TeraWulf by 66.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 77,400 shares of the company’s stock valued at $1,912,000 after purchasing an additional 30,831 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of TeraWulf during the second quarter valued at about $16,500,000. GAMMA Investing LLC boosted its holdings in 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. Finally, CoreCap Advisors LLC grew its position in TeraWulf by 106.7% in the 2nd 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 currently owned by 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.