TeraWulf (NASDAQ:WULF) Director Walter Carter Sells 130,626 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) Director Walter Carter sold 130,626 shares of the business’s stock in a transaction dated 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 owned 229,090 shares in the company, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

TeraWulf Stock Performance

WULF traded down $0.48 on Tuesday, hitting $14.65. 26,250,173 shares of the company traded hands, compared to its average volume of 31,673,682. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84. The company has a 50 day moving average of $19.25 and a 200-day moving average of $19.71. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market capitalization of $7.31 billion, a PE ratio of -3.35 and a beta of 3.76.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. Sell-side analysts anticipate that TeraWulf Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of TeraWulf

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in TeraWulf during the third quarter worth $29,000. Vermillion Wealth Management Inc. lifted its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC acquired a new stake in TeraWulf in the fourth quarter valued at $34,000. 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 worth $35,000 after purchasing an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WULF has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. William Blair initiated coverage on shares of TeraWulf in a research note on Friday. They issued an “outperform” rating for the company. Chardan Capital restated a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research note on Wednesday, August 5th. B. Riley Financial lifted their target price on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price target on shares of TeraWulf in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.21.

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.