TeraWulf (NASDAQ:WULF) Raised to “Strong-Buy” at Jefferies Financial Group

TeraWulf (NASDAQ:WULF) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

WULF has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup restated an “outperform” rating on shares of TeraWulf in a research note on Thursday, May 7th. Cantor Fitzgerald upped their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday. Arete Research began coverage on shares of TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Northland Securities set a $30.00 target price on shares of TeraWulf in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and an average target price of $27.55.

TeraWulf Trading Up 4.5%

WULF opened at $24.17 on Thursday. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of -9.75 and a beta of 3.84. The stock’s 50 day moving average price is $18.22 and its 200-day moving average price is $15.50. TeraWulf has a one year low of $3.31 and a one year high of $25.76. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 1.20.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) EPS. On average, equities analysts forecast that TeraWulf will post -0.54 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael C. Bucella bought 1,665 shares of the stock in a transaction on Friday, March 20th. The stock was bought at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the acquisition, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 13,094 shares of company stock worth $200,392 and sold 954,200 shares worth $16,390,854. 15.90% of the stock is owned by company insiders.

Institutional Trading of TeraWulf

A number of institutional investors have recently made changes to their positions in WULF. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the 3rd quarter worth $29,000. Vermillion Wealth Management Inc. boosted its position in shares of TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC acquired a new stake in shares of TeraWulf in the 4th quarter worth $34,000. Comerica Bank boosted its position in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in shares of TeraWulf in the 1st quarter worth $37,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.