TeraWulf (NASDAQ:WULF) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded TeraWulf to “strong buy,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $32.86.
• TeraWulf shares opened at $13.21, down 1.2%, and remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $1.94 per share, substantially missing estimates, while revenue fell 6% year over year.
• Company insiders recently sold shares, including CEO Paul Prager and director Walter Carter, though insiders still own 15.9% of the stock; institutional investors own 62.49%.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by equities researchers at TD Cowen to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research firms have also recently weighed in on WULF. Weiss Ratings cut TeraWulf from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Zacks Research raised TeraWulf from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Compass Point set a $40.00 target price on TeraWulf in a report on Monday, July 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $37.00 price objective on shares of TeraWulf in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company started coverage on TeraWulf in a report on Thursday, September 17th. They issued an "overweight" rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.86.

TeraWulf Stock Down 1.2%

Shares of NASDAQ:WULF opened at $13.21 on Monday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of -3.02 and a beta of 3.80. The firm's 50 day moving average price is $15.89 and its 200 day moving average price is $19.67. 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 has a fifty-two week low of $10.47 and a fifty-two week 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 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%. TeraWulf's revenue was down 6.0% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. As a group, equities research analysts predict that TeraWulf will post -1.00 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TeraWulf news, Director Walter Carter sold 130,626 shares of TeraWulf stock in a transaction 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 owned 229,090 shares in the company, valued at $3,468,422.60. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Prager sold 137,500 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares in the company, valued at $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased a total of 11,968 shares of company stock valued at $189,962 over the last quarter. Company insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WULF. CoreCap Advisors LLC boosted its holdings 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 period. First United Bank & Trust purchased a new stake in TeraWulf in the 1st quarter worth about $37,000. Ameritas Advisory Services LLC acquired a new position in shares of TeraWulf in the 2nd quarter valued at about $41,000. Summit Securities Group LLC purchased a new stake in shares of TeraWulf in the first quarter worth approximately $48,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of TeraWulf during the 4th quarter valued at $62,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

About TeraWulf

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.

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