Paul Prager Sells 137,500 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred 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 $64,956,837.12. The trade was a 3.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Stock Down 6.9%

Shares of WULF stock opened at $15.35 on Friday. The stock has a market cap of $7.66 billion, a P/E ratio of -3.51 and a beta of 3.76. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84. The stock has a fifty day moving average price of $19.51 and a 200 day moving average price of $19.70. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF) last announced 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 business had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same period last year, the firm earned ($0.05) EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on WULF shares. Morgan Stanley cut their price target on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Oppenheimer reissued an “outperform” rating and issued a $35.00 target price on shares of TeraWulf in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Northland Securities set a $30.00 price target on TeraWulf in a research report on Monday, May 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.21.

Hedge Funds Weigh In On TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in shares of TeraWulf in the third quarter valued at about $29,000. Vermillion Wealth Management Inc. grew its holdings in 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 during the last quarter. Solstein Capital LLC acquired a new position in shares of TeraWulf during the fourth quarter worth approximately $34,000. Comerica Bank grew its stake in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.