Keefe, Bruyette & Woods Lowers TeraWulf (NASDAQ:WULF) Price Target to $30.00

TeraWulf (NASDAQ:WULF) had its price target dropped by equities research analysts at Keefe, Bruyette & Woods from $33.00 to $30.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 81.79% from the company’s previous close.

WULF has been the topic of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Sanford C. Bernstein started coverage on shares of TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of TeraWulf in a report on Wednesday, July 15th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, B. Riley Financial lifted their target price on shares of TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.29.

TeraWulf Stock Performance

Shares of WULF stock traded down $1.48 during mid-day trading on Tuesday, reaching $16.50. The stock had a trading volume of 28,822,900 shares, compared to its average volume of 31,471,232. The firm’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $19.23. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf has a one year low of $4.64 and a one year high of $29.84. The firm has a market cap of $8.18 billion, a PE ratio of -6.64 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. On average, analysts forecast that TeraWulf will post -1.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. The trade was a 3.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its stake in shares of TeraWulf by 4.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 88,200 shares of the company’s stock valued at $2,179,000 after purchasing an additional 3,800 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of TeraWulf by 66.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 77,400 shares of the company’s stock worth $1,912,000 after purchasing an additional 30,831 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of TeraWulf during the 2nd quarter worth about $16,500,000. GAMMA Investing LLC increased its position in shares of TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after purchasing an additional 681 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

About TeraWulf

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.