TeraWulf (NASDAQ:WULF) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of TeraWulf (NASDAQ:WULF) from a sell rating to a hold rating in a report released on Saturday.

WULF has been the topic of a number of other research reports. Rosenblatt Securities increased their price objective on TeraWulf from $14.50 to $20.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald upped their target price on TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. B. Riley upped their target price on TeraWulf from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. JMP Securities upped their target price on TeraWulf from $7.00 to $13.00 and gave the stock a “market outperform” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TeraWulf in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

TeraWulf Trading Up 0.5%

NASDAQ:WULF opened at $13.93 on Friday. The stock’s 50 day moving average price is $10.57 and its 200 day moving average price is $6.22. TeraWulf has a 52 week low of $2.06 and a 52 week high of $16.19. The company has a market capitalization of $5.68 billion, a P/E ratio of -39.80 and a beta of 3.44. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The firm had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 33.9% on a year-over-year basis. On average, research analysts forecast that TeraWulf will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director directly owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC lifted its position in TeraWulf by 12.4% in the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after purchasing an additional 1,250 shares during the period. Tactive Advisors LLC bought a new position in TeraWulf in the third quarter worth $380,000. Farther Finance Advisors LLC lifted its position in TeraWulf by 285.3% in the third quarter. Farther Finance Advisors LLC now owns 7,336 shares of the company’s stock worth $84,000 after purchasing an additional 5,432 shares during the period. Exchange Traded Concepts LLC lifted its position in TeraWulf by 27.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after purchasing an additional 325,148 shares during the period. Finally, Voya Investment Management LLC lifted its position in TeraWulf by 420.6% in the third quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock worth $4,291,000 after purchasing an additional 303,583 shares during the period. 62.49% of the stock is owned by institutional investors.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.