TeraWulf Inc. (NASDAQ:WULF) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $34.7361.

A number of equities analysts recently issued reports on WULF shares. Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. B. Riley Financial raised their target price on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods lowered their price target on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Finally, Bank of America assumed coverage on TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price target for the company.

TeraWulf Stock Down 5.2%

Shares of NASDAQ WULF opened at $16.20 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company has a market cap of $8.08 billion, a price-to-earnings ratio of -3.71 and a beta of 3.76. TeraWulf has a 12 month low of $5.02 and a 12 month high of $29.84. The stock has a 50-day moving average price of $22.36 and a two-hundred day moving average price of $19.51.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 512.60% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same period last year, the company posted ($0.05) EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, analysts forecast that TeraWulf will post -1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of TeraWulf

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 buying an additional 9,162,958 shares during the period. Engle Capital Management L.P. boosted its position in TeraWulf by 574.3% during the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after buying an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. grew its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after acquiring an additional 96,843 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in TeraWulf during the 1st quarter worth approximately $53,418,000. 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.