TeraWulf (NASDAQ:WULF) Trading Up 11.3% – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) was up 11.3% during trading on Tuesday . The company traded as high as $25.74 and last traded at $25.40. Approximately 17,020,470 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 30,869,732 shares. The stock had previously closed at $22.82.

Analysts Set New Price Targets

A number of research analysts recently commented on WULF shares. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Jefferies Financial Group assumed coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price on the stock. Oppenheimer boosted their price target on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of TeraWulf in a research report on Monday, May 11th. Finally, Morgan Stanley boosted their price target on shares of TeraWulf to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.59.

TeraWulf Stock Performance

The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of -10.28 and a beta of 3.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a 50 day moving average price of $19.27 and a two-hundred day moving average price of $15.85.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter last year, the business posted ($0.16) earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that TeraWulf Inc. will post -0.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael C. Bucella acquired 1,665 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director directly owned 280,052 shares in the company, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul B. Prager sold 79,200 shares of TeraWulf stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $20.62, for a total value of $1,633,104.00. Following the completion of the sale, the chief executive officer owned 884,320 shares of the company’s stock, valued at approximately $18,234,678.40. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders acquired 13,094 shares of company stock worth $200,392 and sold 954,200 shares worth $16,390,854. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. Advisory Services Network LLC acquired a new stake in TeraWulf in the third quarter worth about $29,000. Vermillion Wealth Management Inc. increased its position in TeraWulf by 1,191.0% in the fourth 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 during the period. Solstein Capital LLC acquired a new stake in TeraWulf in the fourth quarter worth about $34,000. Comerica Bank increased its position in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the period. Finally, First United Bank & Trust acquired a new stake in TeraWulf in the first quarter worth about $37,000. 62.49% of the stock is currently 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.