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

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $31.8594.

WULF has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein initiated coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. B. Riley Financial upped their price objective on TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC upped their price objective on TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 520,850 shares of company stock worth $10,778,114 over the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in TeraWulf during the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. boosted its position in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new position in TeraWulf during the fourth quarter valued at approximately $34,000. Comerica Bank boosted its position in TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in TeraWulf during the first quarter valued at approximately $37,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Price Performance

WULF stock opened at $28.98 on Monday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $14.36 billion, a P/E ratio of -11.69 and a beta of 3.82. The business has a 50-day moving average of $23.37 and a 200-day moving average of $17.61. TeraWulf has a fifty-two week low of $3.39 and a fifty-two week high of $29.67.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) earnings per share. On average, sell-side analysts anticipate that TeraWulf will post -0.96 earnings per share for the current fiscal year.

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.