Sanford C. Bernstein Upgrades TeraWulf (NASDAQ:WULF) to Strong-Buy

TeraWulf (NASDAQ:WULF) was upgraded by investment analysts at Sanford C. Bernstein to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on WULF. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. B. Riley Financial upped their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Cantor Fitzgerald upped their price target on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Morgan Stanley set a $66.50 price objective on TeraWulf in a report on Wednesday. Finally, Roth Mkm restated a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and a consensus target price of $31.72.

TeraWulf Stock Up 0.1%

NASDAQ WULF opened at $26.19 on Wednesday. The business has a fifty day moving average price of $20.92 and a two-hundred day moving average price of $16.58. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. TeraWulf has a fifty-two week low of $3.39 and a fifty-two week high of $27.47. The stock has a market capitalization of $12.98 billion, a PE ratio of -10.56 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate 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%.The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Equities analysts expect that TeraWulf will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TeraWulf news, CFO Patrick Fleury sold 26,414 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael C. Bucella purchased 1,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $15.04 per share, with a total value of $25,041.60. Following the completion of the acquisition, the director owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 8,590 shares of company stock worth $130,291 and sold 1,120,850 shares worth $20,462,114. Company insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the period. Oppenheimer & Co. Inc. grew its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its holdings in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after acquiring an additional 96,843 shares during the period. First Dallas Securities Inc. grew its holdings in TeraWulf by 99.2% during the 3rd quarter. First Dallas Securities Inc. now owns 264,000 shares of the company’s stock worth $3,015,000 after acquiring an additional 131,500 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in TeraWulf during the 3rd quarter worth about $3,350,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.