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

Shares of TeraWulf Inc. (NASDAQ:WULF) have been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.8594.

A number of equities analysts recently issued reports on WULF shares. Jefferies Financial Group initiated coverage on shares of TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target on the stock. B. Riley Financial lifted their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald boosted their price objective on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Arete Research started coverage on TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target for the company.

Insider Activity

In other news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 383,350 shares of company stock worth $8,564,364. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new position in shares of TeraWulf during the 3rd quarter worth $69,006,000. Wellington Management Group LLP boosted its position in TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after purchasing an additional 3,891,127 shares in the last quarter. Jennison Associates LLC bought a new stake in TeraWulf during the first quarter valued at about $53,418,000. Finally, Marshall Wace LLP boosted its position in TeraWulf by 574.2% during the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after purchasing an additional 2,713,587 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

NASDAQ:WULF opened at $25.83 on Monday. The stock has a market cap of $12.80 billion, a P/E ratio of -10.42 and a beta of 3.82. The firm’s fifty day simple moving average is $24.12 and its 200 day simple moving average is $18.03. TeraWulf has a twelve month low of $4.13 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.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS 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 analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. As a group, research analysts predict that TeraWulf will post -0.96 EPS for the current year.

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.