TeraWulf (NASDAQ:WULF) Trading Down 8.2% – Time to Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price traded down 8.2% on Tuesday . The stock traded as low as $19.40 and last traded at $19.1780. Approximately 8,126,081 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 31,147,199 shares. The stock had previously closed at $20.89.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WULF. Lucid Cap Mkts upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods boosted their target price on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald increased their target price on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Citigroup started coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Zacks Research downgraded TeraWulf from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

TeraWulf Trading Down 6.6%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The business’s fifty day moving average is $24.57 and its 200 day moving average is $18.75. The stock has a market cap of $9.67 billion, a PE ratio of -7.87 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share. As a group, analysts predict that TeraWulf Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of TeraWulf 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 in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 520,850 shares of company stock worth $12,221,864. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of WULF. Vanguard Group Inc. grew its stake in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of TeraWulf during the 3rd quarter worth about $69,006,000. Wellington Management Group LLP boosted its position in shares of TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after acquiring an additional 3,891,127 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of TeraWulf during the 1st quarter worth $53,418,000. Finally, Marshall Wace LLP raised its holdings in shares of TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after purchasing an additional 2,713,587 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.