TeraWulf (NASDAQ:WULF) Stock Rating Upgraded by Freedom Capmkts

Key Points

• Freedom Capmkts upgraded TeraWulf to “strong buy,” adding to broadly positive analyst sentiment. The stock has a “Moderate Buy” consensus rating and an average price target of $34.21.
• TeraWulf shares rose 8.2% to open at $17.86, but the company’s latest quarterly results fell well short of expectations, with a $1.94 per-share loss versus the estimated $0.24 loss and revenue down 6% year over year.
• Insiders sold approximately $7.98 million of stock during the last quarter, including sales by the CEO and a director. Institutional investors and hedge funds own 62.49% of the company.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by equities research analysts at Freedom Capmkts to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

A number of other equities research analysts also recently commented on WULF. B. Riley Financial lifted their price objective on TeraWulf from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. William Blair initiated coverage on TeraWulf in a research report on Friday, August 28th. They issued an "outperform" rating on the stock. Needham & Company LLC boosted their price target on TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Citigroup started coverage on TeraWulf in a research note on Monday, June 29th. They set a "buy" rating and a $36.00 price target for the company. Finally, Chardan Capital restated a "buy" rating and issued a $32.00 price objective on shares of TeraWulf in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.21.

TeraWulf Trading Up 8.2%

NASDAQ WULF opened at $17.86 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The stock has a market capitalization of $8.91 billion, a P/E ratio of -4.09 and a beta of 3.70. TeraWulf has a 52-week low of $9.13 and a 52-week high of $29.84. The firm has a 50-day moving average price of $18.02 and a 200 day moving average price of $19.72.

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

Insider Buying and Selling

In other news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the transaction, the chief executive officer owned 3,807,552 shares of the company's stock, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter E. Carter sold 130,626 shares of TeraWulf stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. Insiders have sold 405,626 shares of company stock valued at $7,980,928 in the last quarter. Company insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of WULF. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the third quarter worth about $29,000. Vermillion Wealth Management Inc. raised its holdings in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock valued at $30,000 after buying an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new position in TeraWulf during the fourth quarter valued at about $34,000. Comerica Bank lifted its position in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after buying an additional 12,370 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of TeraWulf by 106.7% in the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock worth $36,000 after buying an additional 747 shares during the last quarter. Institutional investors and hedge funds 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.

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