Chardan Capital Upgrades TeraWulf (NASDAQ:WULF) to "Strong-Buy"

Key Points

• Chardan Capital upgraded TeraWulf to “strong buy.” Overall analyst sentiment is “Moderate Buy,” with an average price target of $34.29.
• TeraWulf shares opened at $17.09, compared with a 52-week range of $4.64 to $29.84. The company reported a quarterly loss of $1.01 per share, well below the $0.19 consensus estimate, while revenue fell 1.1% year over year to $34.01 million.
• CEO Paul Prager sold 166,650 shares under a pre-arranged Rule 10b5-1 plan, while institutional investors own 62.49% of the stock; Vanguard increased its stake by 37.4% during the fourth quarter.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by investment analysts at Chardan Capital to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Rosenblatt Securities restated a "buy" rating and set a $30.00 price objective on shares of TeraWulf in a research note on Wednesday, July 15th. Morgan Stanley lifted their price target on TeraWulf from $66.50 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Northland Securities set a $30.00 price objective on TeraWulf in a research note on Monday, May 4th. Zacks Research downgraded TeraWulf from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 9th. Finally, Roth Capital reissued a "buy" rating and set a $32.00 target price on shares of TeraWulf in a report on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, TeraWulf presently has an average rating of "Moderate Buy" and an average target price of $34.29.

TeraWulf Price Performance

Shares of NASDAQ WULF opened at $17.09 on Monday. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day moving average of $23.61 and a 200-day moving average of $19.27. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of -6.89 and a beta of 3.73. TeraWulf has a fifty-two week low of $4.64 and a fifty-two week high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same period last year, the company posted ($0.16) earnings per share. The business's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that TeraWulf will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TeraWulf

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the period. Bank of America Corp DE increased its stake in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock worth $63,038,000 after acquiring an additional 2,617,617 shares during the period. Morgan Stanley raised its holdings in TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock valued at $110,778,000 after acquiring an additional 724,286 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock valued at $96,274,000 after acquiring an additional 318,842 shares during the period. Finally, State Street Corp grew its holdings in shares of TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company's stock worth $84,446,000 after purchasing an additional 298,645 shares in the last quarter. Institutional investors 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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