TeraWulf (NASDAQ:WULF) Director Walter Carter Sells 130,626 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Walter Carter sold 130,626 shares of the stock in a transaction dated 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 completion of 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 filing with the SEC, which can be accessed through this link.

TeraWulf Price Performance

TeraWulf stock opened at $14.65 on Wednesday. TeraWulf Inc. has a 52 week low of $8.60 and a 52 week high of $29.84. The firm has a market capitalization of $7.31 billion, a PE ratio of -3.35 and a beta of 3.71. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The firm’s 50-day simple moving average is $18.96 and its 200 day simple moving average is $19.70.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that TeraWulf Inc. will post -0.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WULF. Vanguard Group Inc. boosted its holdings in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. BlackRock Inc. acquired a new position in shares of TeraWulf in the 2nd quarter valued at approximately $577,805,000. Bank of America Corp DE raised its position in shares of TeraWulf by 22.2% in the 2nd 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. California State Teachers Retirement System boosted its stake in shares of TeraWulf by 2,931.3% during the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after buying an additional 10,503,051 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after buying an additional 724,286 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America began coverage on shares of TeraWulf in a research note on Monday, June 15th. They set a “buy” rating and a $34.00 price objective for the company. William Blair started coverage on shares of TeraWulf in a research report on Friday. They set an “outperform” rating for the company. Keefe, Bruyette & Woods cut their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Morgan Stanley reduced their target price on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TeraWulf has a consensus rating of “Moderate Buy” and an average target price of $34.21.

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.