TeraWulf Inc. (NASDAQ:WULF) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have earned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $33.33.

WULF has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of TeraWulf in a research note on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price target on shares of TeraWulf in a report on Friday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Needham & Company LLC upped their price objective on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley lowered their price objective on TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research report on Thursday, August 13th.

Insider Activity at TeraWulf

In related news, Director Walter Carter sold 130,626 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares of the company’s stock, valued at approximately $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Bucella acquired 6,085 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $14.79 per share, with a total value of $89,997.15. Following the purchase, the director directly owned 350,789 shares in the company, valued at approximately $5,188,169.31. This represents a 1.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 11,968 shares of company stock worth $189,962. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the stock. Engle Capital Management L.P. increased its holdings in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of TeraWulf during the 2nd quarter worth approximately $3,534,000. Jennison Associates LLC acquired a new stake in shares of TeraWulf during the 1st quarter worth approximately $53,418,000. Troluce Capital Advisors LLC bought a new position in TeraWulf in the first quarter valued at approximately $33,189,000. Finally, Alyeska Investment Group L.P. bought a new position in TeraWulf in the second quarter valued at approximately $14,223,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

WULF opened at $15.49 on Wednesday. The stock’s fifty day simple moving average is $16.39 and its 200 day simple moving average is $19.77. TeraWulf has a 1-year low of $10.47 and a 1-year high of $29.84. The stock has a market cap of $7.73 billion, a PE ratio of -3.54 and a beta of 3.80. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. As a group, research analysts expect that TeraWulf will post -1 earnings per share for the current year.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.