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

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $23.58 on Thursday. TeraWulf Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $29.84. The business has a 50-day simple moving average of $24.39 and a two-hundred day simple moving average of $18.24. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of -9.51 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The company had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WULF. Morgan Stanley set a $66.50 price target on shares of TeraWulf in a research report on Wednesday, June 3rd. Citigroup assumed coverage on shares of TeraWulf in a report on Monday. They issued a “buy” rating and a $36.00 price objective on the stock. Arete Research began coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Wednesday, June 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.10.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Advisory Services Network LLC bought a new position in shares of TeraWulf during the 3rd quarter valued at approximately $29,000. Vermillion Wealth Management Inc. raised its stake 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 period. Solstein Capital LLC bought a new stake in TeraWulf during the 4th quarter worth approximately $34,000. Comerica Bank lifted its holdings in 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 in the last quarter. Finally, First United Bank & Trust purchased a new position in TeraWulf during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.