TeraWulf (NASDAQ:WULF) Sets New 52-Week Low – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) hit a new 52-week low on Thursday. The company traded as low as $10.35 and last traded at $10.5630, with a volume of 23,338,232 shares changing hands. The stock had previously closed at $11.54.

Analysts Set New Price Targets

Several brokerages recently commented on WULF. Morgan Stanley lifted their target price on shares of TeraWulf from $62.50 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of TeraWulf in a report on Friday, August 21st. Keefe, Bruyette & Woods dropped their price target on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Chardan Capital reiterated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Finally, Rothschild & Co Redburn began coverage on shares of TeraWulf in a research report on Monday, September 21st. They set a “neutral” rating and a $15.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.86.

TeraWulf Stock Performance

The business has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $19.65. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The firm has a market cap of $5.68 billion, a P/E ratio of -2.60 and a beta of 3.80.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. During the same period in the prior year, the business posted ($0.05) EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts predict that TeraWulf Inc. will post -1.00 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were 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 owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This trade 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 stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 11,968 shares of company stock valued at $189,962. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently modified their holdings of WULF. Engle Capital Management L.P. raised its position in shares of TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in TeraWulf during the 2nd quarter valued at about $3,534,000. Jennison Associates LLC purchased a new stake in TeraWulf during the 1st quarter valued at about $53,418,000. Troluce Capital Advisors LLC purchased a new stake in TeraWulf during the 1st quarter valued at about $33,189,000. Finally, Alyeska Investment Group L.P. bought a new stake in TeraWulf during the 2nd quarter valued at about $14,223,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.