Wells Fargo & Company Has Lowered Expectations for TeraWulf (NASDAQ:WULF) Stock Price

Key Points

• Wells Fargo cut its TeraWulf price target from $30 to $22 but maintained an Overweight rating; the new target implies about 73% upside from the stock’s cited $12.71 price.
• Analyst views remain broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $29.38, though recent targets vary widely.
• TeraWulf beat quarterly earnings and revenue estimates, reporting a loss of $0.03 per share and revenue of $76.23 million, up 50.7% year over year.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price objective cut by equities research analysts at Wells Fargo & Company from $30.00 to $22.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 73.09% from the company's current price.

Other analysts also recently issued reports about the company. TD Cowen initiated coverage on TeraWulf in a research report on Monday, October 12th. They issued a "buy" rating and a $21.00 target price for the company. Needham & Company LLC cut their price target on TeraWulf from $33.00 to $25.00 and set a "buy" rating for the company in a research note on Monday. Morgan Stanley lifted their price objective on TeraWulf from $62.50 to $65.00 and gave the stock an "overweight" rating in a report on Friday, October 9th. Sanford C. Bernstein lowered their price objective on TeraWulf from $36.00 to $20.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 4th. Finally, Chardan Capital reiterated a "buy" rating and set a $32.00 target price on shares of TeraWulf in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.38.

TeraWulf Stock Up 2.7%

Shares of TeraWulf stock traded up $0.33 during trading hours on Tuesday, reaching $12.71. The company's stock had a trading volume of 12,155,711 shares, compared to its average volume of 33,335,629. TeraWulf has a one year low of $9.51 and a one year high of $29.84. The company has a market capitalization of $6.34 billion, a P/E ratio of -3.88 and a beta of 4.00. The stock's fifty day simple moving average is $14.15 and its two-hundred day simple moving average is $17.94. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $76.23 million during the quarter, compared to the consensus estimate of $62.49 million. During the same quarter in the prior year, the company posted ($1.13) earnings per share. The firm's revenue for the quarter was up 50.7% on a year-over-year basis. On average, research analysts forecast that TeraWulf will post -1.09 earnings per share for the current year.

Insider Activity at TeraWulf

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 completion of the sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. The transaction 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 the business's stock in a transaction that occurred 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 directly owned 229,090 shares in the company, 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. In the last 90 days, insiders have acquired 11,968 shares of company stock valued at $189,962. Insiders own 15.90% of the company's stock.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC raised its holdings in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in TeraWulf during the 3rd quarter valued at $37,000. Ameritas Advisory Services LLC bought a new position in shares of TeraWulf during the 2nd quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TeraWulf during the 3rd quarter valued at $45,000. Finally, Solstein Capital LLC purchased a new position in shares of TeraWulf in the 2nd quarter worth $74,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

About TeraWulf

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.

Founded in 2021, TeraWulf was co-founded by Paul Prager, who serves as the company's chief executive officer.

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