TeraWulf Inc. (NASDAQ:WULF) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $31.8594.

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday. Needham & Company LLC lifted their target price on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Morgan Stanley set a $66.50 price target on shares of TeraWulf in a research note on Wednesday, June 3rd. Finally, Roth Mkm reissued a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 383,350 shares of company stock valued at $8,564,364. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in WULF. Comerica Bank grew its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC grew its stake in TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after acquiring an additional 793,832 shares during the period. Envestnet Asset Management Inc. grew its stake in TeraWulf by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after acquiring an additional 2,258 shares during the period. Creative Planning grew its stake in TeraWulf by 232.2% in the 2nd quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after acquiring an additional 33,317 shares during the period. Finally, Franklin Resources Inc. boosted its stake in TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock worth $248,000 after purchasing an additional 5,432 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Price Performance

NASDAQ:WULF opened at $25.83 on Monday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of -10.42 and a beta of 3.82. The company has a 50 day moving average price of $24.12 and a 200-day moving average price of $18.05. TeraWulf has a 1-year low of $4.13 and a 1-year high of $29.84.

TeraWulf (NASDAQ:WULF) last posted 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 firm had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. TeraWulf’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. Equities research analysts forecast that TeraWulf will post -0.96 EPS for the current year.

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.