TeraWulf (NASDAQ:WULF) Stock Rating Cut to Strong Sell at Zacks Research

TeraWulf (NASDAQ:WULF) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. UBS Group initiated coverage on shares of TeraWulf in a research report on Wednesday, September 23rd. They set a “buy” rating and a $24.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. B. Riley Financial upped their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Chardan Capital reiterated a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

TeraWulf Trading Down 12.6%

Shares of WULF stock opened at $11.54 on Tuesday. The stock’s fifty day moving average is $15.76 and its two-hundred day moving average is $19.65. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $5.76 billion, a P/E ratio of -2.64 and a beta of 3.80. TeraWulf has a fifty-two week low of $10.47 and a fifty-two week high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its 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 return on equity of 458.62% and a negative net margin of 1,179.94%. The business had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same period last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts expect that TeraWulf will post -1.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Director Walter E. Carter sold 130,626 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the sale, the chief executive officer owned 3,807,552 shares in the company, valued at $64,956,837.12. This represents a 3.49% decrease in their position. 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. Over the last three months, insiders acquired 11,968 shares of company stock worth $189,962. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently modified their holdings of WULF. Edge Wealth Management LLC raised its holdings in TeraWulf by 90.9% in the 3rd quarter. Edge Wealth Management LLC now owns 31,500 shares of the company’s stock valued at $469,000 after buying an additional 15,000 shares during the period. Hardin Capital Partners LLC lifted its position in TeraWulf by 57.1% in the third quarter. Hardin Capital Partners LLC now owns 22,000 shares of the company’s stock valued at $326,000 after buying an additional 8,000 shares during the last quarter. GAMMA Investing LLC boosted its stake in TeraWulf by 75.4% during the third quarter. GAMMA Investing LLC now owns 5,942 shares of the company’s stock worth $88,000 after buying an additional 2,555 shares during the period. Rosenberg Matthew Hamilton boosted its stake in TeraWulf by 1,795.4% during the third quarter. Rosenberg Matthew Hamilton now owns 5,383 shares of the company’s stock worth $80,000 after buying an additional 5,099 shares during the period. Finally, Polaris Financial Partners purchased a new position in TeraWulf during the third quarter worth about $128,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.