TeraWulf (NASDAQ:WULF) Rating Increased to Hold at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded TeraWulf to “Hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $33.04.
• TeraWulf’s latest quarterly results fell well short of expectations, reporting a $1.94 per-share loss versus the $0.24 consensus estimate and revenue of $44.77 million, down 6% year over year.
• The stock opened at $17.45, up 2.6%, but insider activity was mixed: directors sold substantially more shares than they purchased over the past three months, while institutional investors own 62.49% of the company.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by Rothschild & Co Redburn to a "hold" rating in a note issued to investors on Monday, Zacks reports.

A number of other research analysts also recently commented on the company. HC Wainwright reaffirmed a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. Oppenheimer reissued an "outperform" rating and set a $35.00 price target on shares of TeraWulf in a research report on Wednesday, May 27th. Lucid Cap Mkts upgraded TeraWulf to a "strong-buy" rating in a research note on Wednesday, May 27th. William Blair began coverage on shares of TeraWulf in a report on Friday, August 28th. They issued an "outperform" rating for the company. Finally, Morgan Stanley decreased their price target on shares of TeraWulf from $72.00 to $62.50 and set an "overweight" rating for the company in a report on Thursday, August 13th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.04.

TeraWulf Trading Up 2.6%

WULF opened at $17.45 on Monday. The stock has a market capitalization of $8.71 billion, a PE ratio of -3.99 and a beta of 3.70. The firm's fifty day moving average price is $17.00 and its 200 day moving average price is $19.72. 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 12-month low of $10.43 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. As a group, research analysts expect that TeraWulf will post -0.95 EPS for the current fiscal year.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Walter Carter sold 130,626 shares of TeraWulf stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the sale, the director owned 229,090 shares of the company's stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Bucella purchased 6,085 shares of TeraWulf stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $14.79 per share, with a total value of $89,997.15. Following the completion of the purchase, the director owned 350,789 shares in the company, valued at approximately $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 three months, insiders acquired 11,968 shares of company stock worth $189,962 and sold 405,626 shares worth $7,980,928. Insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

Hedge funds have recently made changes to their positions in the stock. Engle Capital Management L.P. raised its position in TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock worth $42,570,000 after purchasing an additional 2,512,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in TeraWulf in the 2nd quarter valued at $3,534,000. Jennison Associates LLC bought a new stake in TeraWulf in the first quarter valued at $53,418,000. Troluce Capital Advisors LLC bought a new stake in TeraWulf in the first quarter valued at $33,189,000. Finally, Sona Asset Management US LLC raised its stake in TeraWulf by 324.8% during the first quarter. Sona Asset Management US LLC now owns 531,000 shares of the company's stock worth $7,662,000 after acquiring an additional 406,000 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf Inc NASDAQ: WULF develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.

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