TeraWulf (NASDAQ:WULF) Stock Jumps 8.2% – What’s Next?

Shares of TeraWulf Inc. (NASDAQ:WULF) rose 8.2% during trading on Friday. The stock traded as high as $15.92 and last traded at $16.1280. Approximately 4,599,682 shares traded hands during trading, a decline of 85% from the average session volume of 31,088,104 shares. The stock had previously closed at $14.91.

Analysts Set New Price Targets

WULF has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Monday, September 21st. HC Wainwright restated a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. UBS Group began coverage on shares of TeraWulf in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company initiated coverage on shares of TeraWulf in a research report on Thursday, September 17th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Compass Point set a $40.00 target price on shares of TeraWulf in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

TeraWulf Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The company has a market cap of $7.74 billion, a price-to-earnings ratio of -3.56 and a beta of 3.80. The stock has a 50 day moving average price of $16.45 and a two-hundred day moving average price of $19.77.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts predict that TeraWulf Inc. will post -1 EPS for the current year.

Insider Transactions at TeraWulf

In other news, 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 sale, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella purchased 6,085 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price 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 in the company, valued at $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 11,968 shares of company stock worth $189,962. 15.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Engle Capital Management L.P. increased its stake in TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of TeraWulf during the 2nd quarter worth about $3,534,000. Jennison Associates LLC bought a new position in shares of TeraWulf in the 1st quarter valued at about $53,418,000. Troluce Capital Advisors LLC bought a new position in shares of TeraWulf in the 1st quarter valued at about $33,189,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of TeraWulf in the second quarter valued at about $14,223,000. 62.49% of the stock is owned by institutional investors.

About TeraWulf

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.