TeraWulf (NASDAQ:WULF) Stock Price Down 8.5% Following Analyst Downgrade

TeraWulf Inc. (NASDAQ:WULF)’s stock price dropped 8.5% on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $12.24 and last traded at $12.0910. 4,853,731 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 31,007,236 shares. The stock had previously closed at $13.21.

WULF has been the subject of several other reports. HC Wainwright restated a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. Morgan Stanley increased their price objective 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. Rothschild & Co Redburn initiated coverage on shares of TeraWulf in a research note on Monday, September 21st. They issued a “neutral” rating and a $15.00 price objective on the stock. Freedom Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, September 8th. Finally, Compass Point set a $40.00 target price on shares of TeraWulf in a research report on Monday, July 6th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the transaction, the chief executive officer owned 3,807,552 shares in the company, 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 6,085 shares of the stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the transaction, the director directly owned 350,789 shares of the company’s stock, valued at $5,188,169.31. This represents a 1.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 11,968 shares of company stock valued at $189,962 in the last 90 days. 15.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. Assenagon Asset Management S.A. boosted its stake in shares of TeraWulf by 325.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,845,156 shares of the company’s stock worth $42,108,000 after acquiring an additional 2,177,134 shares during the last quarter. Edge Wealth Management LLC raised its stake in TeraWulf by 90.9% in the 3rd quarter. Edge Wealth Management LLC now owns 31,500 shares of the company’s stock valued at $469,000 after purchasing an additional 15,000 shares during the last quarter. Hardin Capital Partners LLC raised its stake in TeraWulf by 57.1% in the 3rd quarter. Hardin Capital Partners LLC now owns 22,000 shares of the company’s stock valued at $326,000 after purchasing an additional 8,000 shares during the last quarter. GAMMA Investing LLC lifted its holdings in TeraWulf by 75.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,942 shares of the company’s stock valued at $88,000 after purchasing an additional 2,555 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in TeraWulf by 1,795.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 5,383 shares of the company’s stock valued at $80,000 after purchasing an additional 5,099 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Up 9.4%

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The business has a fifty day simple moving average of $15.66 and a two-hundred day simple moving average of $19.63. The company has a market cap of $6.30 billion, a PE ratio of -2.89 and a beta of 3.80.

TeraWulf (NASDAQ:WULF) last released its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (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 analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. TeraWulf’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. As a group, equities research analysts predict that TeraWulf Inc. will post -1.00 earnings per share for the current year.

About TeraWulf

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.