TeraWulf (NASDAQ:WULF) Trading 7% Higher – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s share price was up 7% during trading on Monday . The stock traded as high as $19.75 and last traded at $19.4290. Approximately 5,488,530 shares traded hands during trading, a decline of 83% from the average session volume of 31,457,998 shares. The stock had previously closed at $18.16.

Wall Street Analyst Weigh In

WULF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Needham & Company LLC lifted their price objective on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Bank of America initiated coverage on TeraWulf in a report on Monday, June 15th. They issued a “buy” rating and a $34.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Finally, Roth Capital restated a “buy” rating and set a $32.00 target price on shares of TeraWulf in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average price target of $34.60.

TeraWulf Price Performance

The firm has a market cap of $9.85 billion, a price-to-earnings ratio of -8.01 and a beta of 3.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company has a 50 day moving average of $23.99 and a 200 day moving average of $19.06.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts predict that TeraWulf Inc. will post -1.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the sale, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth $29,000. Vermillion Wealth Management Inc. boosted its stake in 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 during the period. Solstein Capital LLC bought a new position in TeraWulf during the 4th quarter worth about $34,000. Comerica Bank increased its holdings in 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 raised its stake in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the period. 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.