TeraWulf (NASDAQ:WULF) Stock Falls 4.6% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) shares fell 4.6% during mid-day trading on Friday. The company traded as low as $15.56 and last traded at $15.5340. 7,979,200 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 31,309,859 shares. The stock had previously closed at $16.29.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WULF. Compass Point set a $40.00 price target on TeraWulf in a report on Monday, July 6th. Freedom Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, September 8th. Wells Fargo & Company assumed coverage on shares of TeraWulf in a research note on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 price objective on shares of TeraWulf in a research report on Wednesday, July 15th. Finally, William Blair assumed coverage on TeraWulf in a report on Friday, August 28th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

TeraWulf Trading Down 3.9%

The firm has a market capitalization of $7.81 billion, a P/E ratio of -3.59 and a beta of 3.70. The business’s 50-day moving average is $16.86 and its 200 day moving average is $19.75. 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 quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts anticipate that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was 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 owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter E. Carter sold 130,626 shares of the 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 transaction, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 11,968 shares of company stock valued at $189,962 and have sold 405,626 shares valued at $7,980,928. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd acquired a new stake in TeraWulf in the second quarter valued at approximately $11,945,000. WINTON GROUP Ltd acquired a new stake in shares of TeraWulf during the 2nd quarter valued at $5,550,000. Integrated Wealth Concepts LLC boosted its holdings in shares of TeraWulf by 8.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 48,782 shares of the company’s stock valued at $1,205,000 after acquiring an additional 3,617 shares in the last quarter. IFP Advisors Inc grew its position in TeraWulf by 75.9% during the 2nd quarter. IFP Advisors Inc now owns 15,124 shares of the company’s stock worth $374,000 after acquiring an additional 6,524 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of TeraWulf in the second quarter valued at approximately $540,000. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.