TeraWulf Inc. (NASDAQ:WULF) Stock Has Average Target Price of $33.33 According to Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given an average rating of “Moderate Buy” by the twenty-five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eighteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $33.33.

WULF has been the subject of a number of analyst reports. Freedom Capital raised TeraWulf to a “strong-buy” rating in a research report on Tuesday, September 8th. Citigroup initiated coverage on shares of TeraWulf in a report on Monday, June 29th. They set a “buy” rating and a $36.00 price objective on the stock. Keefe, Bruyette & Woods dropped their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Chardan Capital reissued a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a research report on Wednesday, August 5th. Finally, William Blair assumed coverage on TeraWulf in a research note on Friday, August 28th. They issued an “outperform” rating for the company.

Insider Activity

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella bought 6,085 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average cost of $14.79 per share, with a total value of $89,997.15. Following the completion of the transaction, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 11,968 shares of company stock valued at $189,962 in the last three months. Company insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of TeraWulf during the second quarter worth $577,805,000. Bank of America Corp DE bought a new position in TeraWulf in the 2nd quarter worth about $140,057,000. Geode Capital Management LLC grew its holdings in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after buying an additional 318,842 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TeraWulf during the 2nd quarter valued at about $61,962,000. Finally, Jennison Associates LLC bought a new stake in shares of TeraWulf during the first quarter valued at about $53,418,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $15.49 on Wednesday. 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 has a one year low of $10.47 and a one year high of $29.84. The business has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $19.74. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -3.54 and a beta of 3.80.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. On average, research analysts anticipate that TeraWulf will post -1 earnings per share for the current fiscal year.

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.