TeraWulf (NASDAQ:WULF) Trading Down 8.2% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) was down 8.2% during mid-day trading on Tuesday . The stock traded as low as $19.40 and last traded at $19.1780. Approximately 8,126,081 shares were traded during mid-day trading, a decline of 74% from the average session volume of 31,147,199 shares. The stock had previously closed at $20.89.

Analyst Ratings Changes

A number of research analysts have recently commented on WULF shares. Morgan Stanley upped their price objective on shares of TeraWulf from $66.50 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Compass Point set a $40.00 target price on TeraWulf in a research report on Monday, July 6th. 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. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a report 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 report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

TeraWulf Trading Down 0.2%

The company has a market cap of $9.60 billion, a price-to-earnings ratio of -7.81 and a beta of 3.73. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50 day moving average price is $24.36 and its 200-day moving average price is $18.85.

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

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of TeraWulf 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 approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock worth $12,221,864 in the last three months. 15.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of WULF. Advisory Services Network LLC bought a new stake in TeraWulf in the third quarter valued at $29,000. Vermillion Wealth Management Inc. lifted its holdings in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC bought a new position in shares of TeraWulf during the fourth quarter valued at $34,000. Comerica Bank boosted its stake in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

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.