TeraWulf Inc. (NASDAQ:WULF) Given Average Rating of “Moderate Buy” by Brokerages

TeraWulf Inc. (NASDAQ:WULF) has received an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.2083.

Several research analysts have recently issued reports on WULF shares. Zacks Research raised TeraWulf from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Needham & Company LLC raised their target price on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Oppenheimer restated an “outperform” rating and set a $35.00 target price on shares of TeraWulf in a research report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price target on shares of TeraWulf in a report on Friday, August 21st. Finally, B. Riley Financial increased their price target on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 3rd.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 3,023 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $16.54 per share, with a total value of $50,000.42. Following the purchase, the director owned 341,844 shares of the company’s stock, valued at $5,654,099.76. This trade represents a 0.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were 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 directly owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 405,626 shares of company stock valued at $7,980,928 over the last three months. 15.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in TeraWulf in the 2nd quarter worth approximately $577,805,000. Bank of America Corp DE boosted its holdings in shares of TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. California State Teachers Retirement System grew its position in shares of TeraWulf by 2,931.3% in the second quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after purchasing an additional 10,503,051 shares during the period. Morgan Stanley increased its stake in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Performance

NASDAQ WULF opened at $16.74 on Friday. TeraWulf has a 1-year low of $10.04 and a 1-year high of $29.84. The company has a market capitalization of $8.35 billion, a P/E ratio of -3.83 and a beta of 3.70. The business has a 50 day moving average price of $17.70 and a 200 day moving average price of $19.72. 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 (NASDAQ:WULF) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Sell-side analysts expect that TeraWulf will post -0.95 EPS for the current fiscal year.

TeraWulf Company Profile

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.