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

Shares of TeraWulf Inc. (NASDAQ:WULF) have received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $34.6029.

WULF has been the subject of a number of research analyst reports. Northland Securities set a $30.00 price target on TeraWulf in a research note on Monday, May 4th. Keefe, Bruyette & Woods upped their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Bank of America initiated coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 target price for the company. Jefferies Financial Group started coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 target price on the stock. Finally, Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the transaction, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock worth $12,221,864 over the last 90 days. 15.90% of the stock is owned by insiders.

Institutional Trading of TeraWulf

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the period. Bank of America Corp DE boosted its position in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the last quarter. Morgan Stanley increased its holdings in TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after buying an additional 724,286 shares during the period. Geode Capital Management LLC increased its holdings in TeraWulf by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after buying an additional 318,842 shares during the period. Finally, State Street Corp raised its position in TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after buying an additional 298,645 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

NASDAQ WULF opened at $19.87 on Friday. The firm’s fifty day simple moving average is $23.99 and its two-hundred day simple moving average is $19.06. The firm has a market capitalization of $9.85 billion, a P/E ratio of -8.01 and a beta of 3.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf has a 12-month low of $4.64 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that TeraWulf will post -1.09 EPS 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.