TeraWulf (NASDAQ:WULF) CEO Sells $3,657,500.00 in Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the transaction, the chief executive officer directly owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Price Performance

Shares of TeraWulf stock opened at $21.18 on Friday. TeraWulf Inc. has a twelve month low of $4.52 and a twelve month high of $29.84. 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 company has a 50-day simple moving average of $24.43 and a two-hundred day simple moving average of $18.31. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of -8.54 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last announced its 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). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the previous year, the company earned ($0.16) EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that TeraWulf Inc. will post -0.96 EPS for the current year.

Institutional Trading of TeraWulf

A number of institutional investors and hedge funds have recently made changes to their positions in WULF. Vanguard Group Inc. boosted its position in shares of TeraWulf by 37.4% during 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 in the last quarter. Bank of America Corp DE raised its position in TeraWulf by 22.2% during 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 purchasing an additional 2,617,617 shares in the last quarter. Morgan Stanley raised its position in TeraWulf by 8.1% during the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares in the last quarter. Geode Capital Management LLC lifted its stake in TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp lifted its stake in TeraWulf by 4.2% during the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after purchasing an additional 298,645 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Needham & Company LLC lifted their price objective on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. B. Riley Financial upped their target price on TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Oppenheimer reissued an “outperform” rating and set a $35.00 target price on shares of TeraWulf in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TeraWulf presently has an average rating of “Moderate Buy” and an average target price of $32.10.

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.