TeraWulf (NASDAQ:WULF) Upgraded at Keefe, Bruyette & Woods

TeraWulf (NASDAQ:WULF) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $24.00 target price on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 115.25% from the company’s current price.

WULF has been the subject of a number of other reports. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Monday. Northland Securities set a $23.25 target price on TeraWulf in a report on Wednesday, October 29th. Oppenheimer started coverage on TeraWulf in a report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Wall Street Zen cut TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

TeraWulf Stock Performance

Shares of WULF opened at $11.15 on Wednesday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -7.85 and a beta of 3.83. The business’s fifty day simple moving average is $13.50 and its two-hundred day simple moving average is $10.01. TeraWulf has a 12 month low of $2.06 and a 12 month high of $17.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The company had revenue of $50.58 million for the quarter, compared to the consensus estimate of $56.27 million. The business’s quarterly revenue was up 86.9% on a year-over-year basis. Research analysts anticipate that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael C. Bucella purchased 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the acquisition, the director owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.90% of the stock is currently owned by insiders.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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. OLD Mission Capital LLC raised its position in shares of TeraWulf by 42.5% during the 1st quarter. OLD Mission Capital LLC now owns 28,587 shares of the company’s stock worth $78,000 after purchasing an additional 8,529 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in TeraWulf in the 1st quarter valued at about $2,181,000. Beryl Capital Management LLC purchased a new stake in TeraWulf during the 1st quarter worth approximately $692,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in TeraWulf during the 1st quarter worth approximately $191,000. 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.