TeraWulf (NASDAQ:WULF) Shares Up 6.8% – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 6.8% during trading on Friday . The stock traded as high as $17.30 and last traded at $17.2370. Approximately 11,057,476 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 31,394,707 shares. The stock had previously closed at $16.14.

Analyst Ratings Changes

WULF has been the subject of several research reports. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price objective on shares of TeraWulf in a report on Friday, August 21st. Morgan Stanley lowered their price objective on TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Citigroup initiated coverage on TeraWulf in a report on Monday, June 29th. They set a “buy” rating and a $36.00 target price for the company. Finally, Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

TeraWulf Trading Up 3.7%

The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50-day moving average price is $17.70 and its two-hundred day moving average price is $19.72. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of -3.83 and a beta of 3.70.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts predict that TeraWulf Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In related news, Director Michael Bucella bought 2,860 shares of TeraWulf stock in a transaction dated Monday, August 17th. The shares were bought at an average cost of $17.47 per share, with a total value of $49,964.20. Following the acquisition, the director owned 344,704 shares in the company, valued at $6,021,978.88. This trade represents a 0.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul Prager sold 137,500 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 405,626 shares of company stock worth $7,980,928. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at approximately $29,000. Vermillion Wealth Management Inc. boosted its position in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares in the last quarter. Solstein Capital LLC acquired a new position in TeraWulf during the fourth quarter valued at approximately $34,000. Comerica Bank lifted its stake in TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its stake in TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.