TeraWulf (NASDAQ:WULF) Stock Rating Upgraded by TD Cowen

TeraWulf (NASDAQ:WULF) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other equities research analysts have also recently weighed in on WULF. Compass Point set a $40.00 price target on shares of TeraWulf in a research report on Monday, July 6th. HC Wainwright reiterated a “buy” rating on shares of TeraWulf in a report on Friday, August 21st. Morgan Stanley raised their target price on TeraWulf from $62.50 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings cut TeraWulf from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Finally, Wells Fargo & Company started coverage on TeraWulf in a report on Thursday, September 17th. They set an “overweight” rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

TeraWulf Price Performance

WULF stock opened at $13.21 on Monday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf has a 52 week low of $10.47 and a 52 week high of $29.84. The firm’s fifty day moving average is $15.89 and its 200 day moving average is $19.67. The firm has a market cap of $6.59 billion, a P/E ratio of -3.02 and a beta of 3.80.

TeraWulf (NASDAQ:WULF) last issued 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). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. The business had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter in the previous year, the business earned ($0.05) EPS. TeraWulf’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts predict that TeraWulf will post -1.00 earnings per share for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella acquired 6,085 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the purchase, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares in the company, valued at approximately $3,468,422.60. This trade represents a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 11,968 shares of company stock worth $189,962 in the last three months. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in TeraWulf in the second quarter worth about $577,805,000. Bank of America Corp DE grew its holdings in shares of TeraWulf by 9.2% during the first quarter. Bank of America Corp DE now owns 5,777,458 shares of the company’s stock valued at $83,369,000 after buying an additional 488,184 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of TeraWulf during the first quarter valued at approximately $53,418,000. Engle Capital Management L.P. grew its holdings in shares of TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TeraWulf during the second quarter valued at approximately $61,962,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.