TeraWulf (NASDAQ:WULF) Stock Rating Lowered by Zacks Research

TeraWulf (NASDAQ:WULF) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also commented on WULF. B. Riley Financial boosted their price target on TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein started coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of TeraWulf in a research note on Wednesday, May 27th. Finally, Compass Point set a $40.00 target price on shares of TeraWulf in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.25.

TeraWulf Stock Down 5.3%

Shares of WULF stock traded down $1.23 on Thursday, hitting $21.97. The stock had a trading volume of 30,859,358 shares, compared to its average volume of 31,690,438. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The business has a 50 day moving average price of $24.59 and a 200 day moving average price of $18.65. The company has a market cap of $10.89 billion, a PE ratio of -8.86 and a beta of 3.73. TeraWulf has a one year low of $4.64 and a one year high of $29.84.

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

Insider Activity at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in TeraWulf in the 3rd quarter worth approximately $69,006,000. Wellington Management Group LLP grew its stake in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares during the period. Jennison Associates LLC purchased a new position in shares of TeraWulf during the 1st quarter valued at approximately $53,418,000. Finally, Marshall Wace LLP increased its holdings in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after purchasing an additional 2,713,587 shares in the last quarter. 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.