B. Riley Lowers TeraWulf (NASDAQ:WULF) Price Target to $5.00

TeraWulf (NASDAQ:WULF – Get Rating) had its target price lowered by investment analysts at B. Riley from $19.00 to $5.00 in a research report issued to clients and investors on Thursday, The Fly reports. B. Riley’s price target indicates a potential upside of 189.02% from the company’s current price.

Shares of NASDAQ WULF opened at $1.73 on Thursday. The company has a market cap of $180.97 million, a P/E ratio of -7.86 and a beta of 1.19. TeraWulf has a 12-month low of $1.64 and a 12-month high of $43.98. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $3.34.

In other news, CEO Paul B. Prager purchased 317,259 shares of the stock in a transaction dated Monday, April 11th. The shares were bought at an average cost of $7.88 per share, for a total transaction of $2,500,000.92. Following the transaction, the chief executive officer now owns 654,706 shares in the company, valued at $5,159,083.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Revolve Capital Llc purchased 158,629 shares of the stock in a transaction dated Monday, April 11th. The shares were purchased at an average price of $7.88 per share, for a total transaction of $1,249,996.52. Following the completion of the transaction, the insider now owns 10,981,382 shares in the company, valued at approximately $86,533,290.16. The disclosure for this purchase can be found here. 14.74% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of WULF. Vanguard Group Inc. increased its position in shares of TeraWulf by 5,028.0% during the 1st quarter. Vanguard Group Inc. now owns 2,248,383 shares of the company’s stock valued at $18,886,000 after purchasing an additional 2,204,538 shares during the period. NewGen Asset Management Ltd acquired a new position in shares of TeraWulf in the 4th quarter worth $12,340,000. Marshall Wace LLP acquired a new position in shares of TeraWulf in the 4th quarter worth $11,926,000. BlackRock Inc. grew its holdings in shares of TeraWulf by 45,630.5% in the 1st quarter. BlackRock Inc. now owns 380,935 shares of the company’s stock worth $3,200,000 after acquiring an additional 380,102 shares during the last quarter. Finally, Owl Creek Asset Management L.P. acquired a new position in shares of TeraWulf in the 4th quarter worth $4,360,000. Institutional investors own 2.80% of the company’s stock.

TeraWulf Company Profile (Get Rating)

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites. The company operates two bitcoin mining facility sites located in New York and Pennsylvania. TeraWulf Inc is based in Easton, Maryland.

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