TeraWulf (NASDAQ:WULF) Given New $26.00 Price Target at B. Riley Financial

TeraWulf (NASDAQ:WULF) had its price target trimmed by B. Riley Financial from $40.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a research note on Wednesday, August 5th. HC Wainwright reissued a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Zacks Research downgraded TeraWulf from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Wells Fargo & Company assumed coverage on TeraWulf in a research report on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Rothschild & Co Redburn assumed coverage on shares of TeraWulf in a report on Monday, September 21st. They set a “neutral” rating and a $15.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average target price of $32.35.

TeraWulf Trading Down 8.0%

NASDAQ WULF opened at $11.73 on Friday. The firm has a market capitalization of $5.85 billion, a P/E ratio of -2.68 and a beta of 3.80. The business has a fifty day simple moving average of $14.68 and a 200 day simple moving average of $18.01. TeraWulf has a 12 month low of $10.35 and a 12 month high of $29.84. 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 issued its quarterly 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). The business 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 business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. On average, analysts predict that TeraWulf will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Walter Carter sold 130,626 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the sale, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 11,968 shares of company stock worth $189,962 over the last quarter. Company insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

A number of institutional investors have recently made changes to their positions in WULF. BlackRock Inc. acquired a new position in TeraWulf in the 2nd quarter valued at about $577,805,000. Bank of America Corp DE grew its position in TeraWulf by 9.2% in the first quarter. Bank of America Corp DE now owns 5,777,458 shares of the company’s stock worth $83,369,000 after acquiring an additional 488,184 shares during the period. Jennison Associates LLC acquired a new stake in TeraWulf during the first quarter worth $53,418,000. Engle Capital Management L.P. increased its stake in TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after acquiring an additional 2,512,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in TeraWulf by 325.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,845,156 shares of the company’s stock valued at $42,108,000 after buying an additional 2,177,134 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.