Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $19.15

TeraWulf Inc. (NASDAQ:WULF) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.1538.

A number of brokerages recently issued reports on WULF. Wall Street Zen lowered shares of TeraWulf from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. B. Riley upped their price target on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. JMP Securities set a $22.00 price objective on shares of TeraWulf in a report on Wednesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 target price on shares of TeraWulf in a report on Tuesday, December 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th.

TeraWulf Stock Down 3.8%

WULF opened at $14.54 on Friday. The stock’s 50 day moving average price is $13.50 and its 200 day moving average price is $11.32. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $6.09 billion, a P/E ratio of -10.24 and a beta of 3.69. TeraWulf has a 12 month low of $2.06 and a 12 month high of $17.05.

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

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella bought 4,178 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $12.01 per share, with a total value of $50,177.78. Following the completion of the purchase, the director directly owned 266,958 shares of the company’s stock, valued at $3,206,165.58. This represents a 1.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank boosted its position in shares of TeraWulf by 3,748.5% during the 1st 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. Millennium Management LLC lifted its stake in TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after purchasing an additional 793,832 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in TeraWulf by 7.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 729,734 shares of the company’s stock worth $3,196,000 after buying an additional 48,573 shares in the last quarter. Camelot Portfolios LLC acquired a new position in TeraWulf in the second quarter worth approximately $88,000. Finally, Greenleaf Trust bought a new position in shares of TeraWulf in the second quarter valued at $83,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.