TeraWulf (NASDAQ:WULF) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded TeraWulf from “strong sell” to “hold.” Overall, analysts rate the stock “Moderate Buy,” with an average price target of $27.18.
• TeraWulf reported quarterly EPS of -$0.03, beating estimates of -$0.18, and revenue of $76.23 million versus expectations of $62.49 million. Revenue rose 50.7% year over year.
• The stock opened at $12.62, below its 50-day and 200-day moving averages of $13.97 and $17.92. The article also reported that the CEO and a director recently sold shares.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on the company. HC Wainwright reiterated a "buy" rating on shares of TeraWulf in a research report on Friday, August 21st. Northland Securities set a $22.50 price objective on TeraWulf in a research report on Friday, November 6th. William Blair initiated coverage on TeraWulf in a research note on Friday, August 28th. They set an "outperform" rating for the company. B. Riley Financial lowered their price objective on TeraWulf from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, October 30th. Finally, Wells Fargo & Company dropped their target price on TeraWulf from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf presently has an average rating of "Moderate Buy" and an average target price of $27.18.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $12.62 on Friday. The company has a market cap of $6.33 billion, a PE ratio of -3.86 and a beta of 4.00. TeraWulf has a fifty-two week low of $9.51 and a fifty-two week high of $29.84. The firm has a 50-day simple moving average of $13.97 and a 200 day simple moving average of $17.92. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 5.35.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. TeraWulf had a negative net margin of 410.92% and a positive return on equity of 87.30%. The firm had revenue of $76.23 million for the quarter, compared to analysts' expectations of $62.49 million. During the same quarter last year, the company posted ($1.13) earnings per share. TeraWulf's revenue was up 50.7% on a year-over-year basis. On average, sell-side analysts anticipate that TeraWulf will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Walter E. Carter sold 130,626 shares of TeraWulf stock in a transaction that occurred 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 approximately $3,468,422.60. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by insiders.

Institutional Trading of TeraWulf

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in TeraWulf during the 3rd quarter valued at $208,000. First Trust Advisors LP boosted its position in TeraWulf by 234.6% during the 3rd quarter. First Trust Advisors LP now owns 2,260,355 shares of the company's stock worth $33,453,000 after acquiring an additional 1,584,798 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in shares of TeraWulf in the third quarter worth $207,000. Cornerstone Select Advisors LLC grew its stake in shares of TeraWulf by 27.7% in the third quarter. Cornerstone Select Advisors LLC now owns 17,013 shares of the company's stock worth $252,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of TeraWulf by 7.7% in the third quarter. Private Advisor Group LLC now owns 19,754 shares of the company's stock worth $292,000 after purchasing an additional 1,411 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc. develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing. Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

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