Paul Prager Sells 137,500 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Price Performance

WULF stock opened at $21.18 on Friday. The firm has a market cap of $10.50 billion, a P/E ratio of -8.54 and a beta of 3.73. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. TeraWulf Inc. has a 1 year low of $4.52 and a 1 year high of $29.84. The stock has a 50-day simple moving average of $24.42 and a 200-day simple moving average of $18.29.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, equities analysts predict that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley set a $66.50 target price on shares of TeraWulf in a research note on Wednesday, June 3rd. Roth Mkm restated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research report on Friday, April 17th. Jefferies Financial Group assumed coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target for the company. Arete Research began coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.10.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kraematon Investment Advisors Inc. lifted its position in TeraWulf by 2.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock valued at $488,000 after acquiring an additional 952 shares in the last quarter. R Squared Ltd increased its holdings in TeraWulf by 5.0% during the 4th quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after purchasing an additional 1,056 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of TeraWulf by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock worth $724,000 after purchasing an additional 1,259 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of TeraWulf by 10.7% in the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of TeraWulf by 7.3% in the third quarter. Xponance Inc. now owns 22,215 shares of the company’s stock valued at $254,000 after purchasing an additional 1,503 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.