TeraWulf (NASDAQ:WULF) Given New $26.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial lowered TeraWulf’s price target from $40 to $26 while maintaining a “buy” rating, implying approximately 116% upside from the stock’s $12.04 price.
• TeraWulf shares fell 5.6% to $12.04, while its analyst consensus remained “Moderate Buy” with an average price target of $32.35.
• The company reported a significant quarterly loss of $1.94 per share, missing estimates by $1.70, as revenue declined 6% year over year to $44.77 million.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price objective reduced by investment analysts at B. Riley Financial from $40.00 to $26.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's target price suggests a potential upside of 115.93% from the company's current price.

A number of other brokerages also recently commented on WULF. Freedom Capital upgraded TeraWulf to a "strong-buy" rating in a research note on Tuesday, September 8th. Compass Point set a $40.00 price objective on TeraWulf in a report on Monday, July 6th. Cantor Fitzgerald dropped their target price on shares of TeraWulf from $37.00 to $30.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. TD Cowen initiated coverage on shares of TeraWulf in a research note on Monday, October 12th. They set a "buy" rating and a $21.00 target price for the company. Finally, Rothschild & Co Redburn began coverage on shares of TeraWulf in a report on Monday, September 21st. They set a "neutral" rating and a $15.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of "Moderate Buy" and an average target price of $32.35.

TeraWulf Stock Down 5.6%

NASDAQ WULF traded down $0.71 on Friday, reaching $12.04. The company had a trading volume of 5,605,978 shares, compared to its average volume of 32,175,041. The firm has a market capitalization of $6.01 billion, a PE ratio of -2.77 and a beta of 3.80. The firm has a 50-day moving average of $14.77 and a 200-day moving average of $18.02. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf has a 1 year low of $10.35 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 business had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm's revenue was down 6.0% on a year-over-year basis. On average, equities research analysts anticipate that TeraWulf will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the transaction, the chief executive officer owned 3,807,552 shares of the company's stock, valued at $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 6,085 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $14.79 per share, for a total transaction of $89,997.15. Following the transaction, the director directly owned 350,789 shares of the company's stock, valued at $5,188,169.31. This trade represents a 1.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 11,968 shares of company stock worth $189,962. Insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

A number of large investors have recently bought and sold shares of the stock. Arlington Capital Management INC boosted its position in shares of TeraWulf by 3.8% in the 3rd quarter. Arlington Capital Management INC now owns 216,867 shares of the company's stock worth $3,210,000 after purchasing an additional 7,964 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TeraWulf during the third quarter worth $45,000. State of Wyoming raised its stake in shares of TeraWulf by 13.5% in the 3rd quarter. State of Wyoming now owns 7,331 shares of the company's stock valued at $108,000 after purchasing an additional 870 shares during the period. Oppenheimer & Co. Inc. boosted its position in TeraWulf by 14.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 193,271 shares of the company's stock worth $2,860,000 after acquiring an additional 24,387 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in TeraWulf during the 3rd quarter worth about $1,998,000. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.

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