TeraWulf (NASDAQ:WULF) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of TeraWulf (NASDAQ:WULF) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks reports.

A number of other research firms have also recently weighed in on WULF. B. Riley Financial upped their price target on TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a report on Friday, August 21st. TD Cowen initiated coverage on TeraWulf in a report on Monday. They issued a “buy” rating and a $21.00 price objective on the stock. Wells Fargo & Company began coverage on TeraWulf in a research report on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Rothschild & Co Redburn began coverage on TeraWulf in a research note on Monday, September 21st. They set a “neutral” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.86.

TeraWulf Stock Performance

WULF opened at $11.54 on Tuesday. TeraWulf has a 12-month low of $10.47 and a 12-month high of $29.84. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The firm has a market capitalization of $5.76 billion, a PE ratio of -2.64 and a beta of 3.80. The firm has a 50 day moving average of $15.76 and a two-hundred day moving average of $19.65.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, analysts anticipate that TeraWulf will post -1.00 EPS for the current year.

Insider Activity at TeraWulf

In related news, CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella acquired 6,085 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares in the company, valued at $5,188,169.31. The trade was a 1.77% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 11,968 shares of company stock valued at $189,962. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of TeraWulf

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in TeraWulf during the second quarter worth about $577,805,000. Bank of America Corp DE acquired a new position in TeraWulf in the 2nd quarter valued at about $140,057,000. Jennison Associates LLC acquired a new position in TeraWulf in the 1st quarter valued at about $53,418,000. Engle Capital Management L.P. boosted its holdings in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after purchasing 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 in the 2nd quarter valued at approximately $61,962,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.