Wells Fargo & Company Issues Pessimistic Forecast for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF) had its price objective lowered by analysts at Wells Fargo & Company from $30.00 to $22.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 73.09% from the company’s current price.

A number of other equities research analysts also recently issued reports on WULF. Keefe, Bruyette & Woods decreased their price objective on TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Northland Securities set a $22.50 target price on TeraWulf in a research report on Friday. William Blair assumed coverage on TeraWulf in a report on Friday, August 28th. They set an “outperform” rating on the stock. Morgan Stanley lifted 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. Finally, UBS Group started coverage on shares of TeraWulf in a research report on Wednesday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, TeraWulf presently has an average rating of “Moderate Buy” and a consensus target price of $29.38.

TeraWulf Stock Performance

WULF traded up $0.33 during midday trading on Tuesday, reaching $12.71. The company had a trading volume of 12,155,711 shares, compared to its average volume of 33,335,629. The business has a 50-day moving average of $14.15 and a two-hundred day moving average of $17.94. The company has a market cap of $6.34 billion, a P/E ratio of -3.88 and a beta of 4.00. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf has a 1 year low of $9.51 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $76.23 million during the quarter, compared to the consensus estimate of $62.49 million. During the same quarter in the prior year, the firm posted ($1.13) EPS. TeraWulf’s quarterly revenue was up 50.7% compared to the same quarter last year. As a group, equities research analysts predict that TeraWulf will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter Carter sold 130,626 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the transaction, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 11,968 shares of company stock valued at $189,962 in the last ninety days. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. Engle Capital Management L.P. grew its stake in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in TeraWulf during the second quarter worth $3,534,000. Jennison Associates LLC bought a new stake in TeraWulf during the first quarter worth $53,418,000. Troluce Capital Advisors LLC bought a new stake in TeraWulf during the first quarter worth $33,189,000. Finally, Alyeska Investment Group L.P. acquired a new stake in TeraWulf in the second quarter valued at $14,223,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf, Inc develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing.

Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

Founded in 2021, TeraWulf was co-founded by Paul Prager, who serves as the company’s chief executive officer.