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

TeraWulf Inc. (NASDAQ:WULF) has been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $34.6029.

Several analysts recently commented on WULF shares. Northland Securities set a $30.00 price objective on TeraWulf in a report on Monday, May 4th. Citigroup started coverage on TeraWulf in a research report on Monday, June 29th. They issued a “buy” rating and a $36.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. B. Riley Financial boosted their price target on TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a research note on Wednesday.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock worth $12,221,864 in the last three months. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank grew its position in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC raised its holdings in TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. raised its holdings in TeraWulf by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning lifted its position in TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after purchasing an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in TeraWulf by 10.6% during the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after purchasing an additional 5,432 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Trading Down 7.2%

NASDAQ:WULF opened at $17.98 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf has a 12 month low of $4.64 and a 12 month high of $29.84. The company has a market cap of $8.91 billion, a PE ratio of -7.25 and a beta of 3.73. The company has a 50 day simple moving average of $24.24 and a two-hundred day simple moving average of $18.90.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. Research analysts forecast that TeraWulf will post -1.09 earnings per share for the current year.

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.