TeraWulf (NASDAQ:WULF) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of TeraWulf (NASDAQ:WULF) from a hold rating to a sell rating in a report issued on Sunday morning.

WULF has been the topic of a number of other reports. Rosenblatt Securities raised their price objective on TeraWulf from $14.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “sell (e+)” rating on shares of TeraWulf in a research report on Wednesday, October 8th. Cantor Fitzgerald lifted their price target on TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Roth Capital increased their price objective on TeraWulf from $7.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Citigroup restated a “market outperform” rating on shares of TeraWulf in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.21.

TeraWulf Trading Up 16.9%

Shares of WULF opened at $15.94 on Friday. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week high of $17.05. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of -45.54 and a beta of 3.44. The firm has a 50 day moving average price of $11.44 and a 200-day moving average price of $6.79. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. TeraWulf’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. As a group, equities research analysts forecast that TeraWulf will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the transaction, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in TeraWulf by 2.3% in the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company’s stock worth $65,193,000 after buying an additional 534,315 shares during the period. 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 worth $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in shares of TeraWulf by 13.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after purchasing an additional 493,001 shares during the period. Tidal Investments LLC boosted its position in shares of TeraWulf by 6.0% during the second quarter. Tidal Investments LLC now owns 2,673,105 shares of the company’s stock valued at $11,708,000 after purchasing an additional 150,346 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TeraWulf by 64.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,646,707 shares of the company’s stock worth $11,590,000 after purchasing an additional 1,033,073 shares during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.