Walter Carter Sells 130,626 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) Director Walter Carter sold 130,626 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

TeraWulf Stock Up 1.2%

NASDAQ:WULF opened at $14.82 on Thursday. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -3.39 and a beta of 3.71. TeraWulf Inc. has a twelve month low of $8.60 and a twelve month high of $29.84. The stock’s 50 day moving average price is $18.72 and its two-hundred day moving average price is $19.70. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $46.00 million. During the same period in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts expect that TeraWulf Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Compass Point set a $40.00 target price on shares of TeraWulf in a report on Monday, July 6th. B. Riley Financial raised their target price on shares of TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Zacks Research raised TeraWulf from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Finally, William Blair began coverage on TeraWulf in a research note on Friday, August 28th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP increased its stake in shares of TeraWulf by 107.5% during the second quarter. Corient Private Wealth LP now owns 24,433 shares of the company’s stock worth $603,000 after purchasing an additional 12,657 shares during the period. Amundi boosted its stake in TeraWulf by 213.3% in the 2nd quarter. Amundi now owns 32,135 shares of the company’s stock valued at $794,000 after purchasing an additional 21,879 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in TeraWulf in the 2nd quarter valued at $1,336,000. California State Teachers Retirement System grew its holdings in TeraWulf by 2,931.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after buying an additional 10,503,051 shares in the last quarter. Finally, Readystate Asset Management LP grew its holdings in TeraWulf by 6.1% in the 2nd quarter. Readystate Asset Management LP now owns 327,272 shares of the company’s stock valued at $8,084,000 after buying an additional 18,808 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.