TeraWulf (NASDAQ:WULF) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TeraWulf (NASDAQ:WULF) from a strong sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the company. Jefferies Financial Group cut their price target on TeraWulf from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, November 10th. Weiss Ratings raised TeraWulf from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Northland Securities set a $22.50 price objective on TeraWulf in a research report on Friday, November 6th. Citigroup lowered their price objective on TeraWulf from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, November 10th. Finally, B. Riley Financial cut their price objective on TeraWulf from $40.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Moderate Buy” and a consensus target price of $27.18.

TeraWulf Stock Performance

Shares of WULF stock traded down $0.42 during mid-day trading on Friday, reaching $12.62. 41,258,133 shares of the company’s stock traded hands, compared to its average volume of 52,885,644. TeraWulf has a 12 month low of $9.51 and a 12 month high of $29.84. The firm has a 50 day moving average price of $13.97 and a two-hundred day moving average price of $17.92. The company has a debt-to-equity ratio of 5.35, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market capitalization of $6.33 billion, a PE ratio of -3.86 and a beta of 4.00.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, November 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $76.23 million for the quarter, compared to analysts’ expectations of $62.49 million. TeraWulf had a positive return on equity of 87.30% and a negative net margin of 410.92%. TeraWulf’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.13) EPS. On average, research analysts forecast that TeraWulf will post -0.48 EPS for the current year.

Insider Activity

In other TeraWulf news, Director Michael Bucella acquired 6,085 shares of the stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of TeraWulf during the second quarter valued at approximately $577,805,000. Bank of America Corp DE boosted its position in shares of TeraWulf by 9.2% during the first quarter. Bank of America Corp DE now owns 5,777,458 shares of the company’s stock worth $83,369,000 after acquiring an additional 488,184 shares during the last quarter. Jennison Associates LLC purchased a new position in TeraWulf during the first quarter valued at $53,418,000. Engle Capital Management L.P. grew its stake in TeraWulf by 574.3% during 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 acquiring an additional 2,512,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in TeraWulf by 325.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,845,156 shares of the company’s stock valued at $42,108,000 after acquiring an additional 2,177,134 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

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.