TeraWulf (NASDAQ:WULF) CEO Sells $2,345,750.00 in Stock

Key Points

• CEO Paul Prager sold 137,500 TeraWulf shares for approximately $2.35 million at an average price of $17.06 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 3.49%.
• TeraWulf shares fell 6.9% to $15.35, while the company reported a significant quarterly EPS miss of $1.70 and revenue declined 6% year over year.
• Despite the weak results, institutional ownership stands at 62.49%, and analysts maintain a “Moderate Buy” consensus with an average price target of $34.21.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) CEO Paul Prager sold 137,500 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer owned 3,807,552 shares of the company's stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Stock Down 6.9%

NASDAQ WULF traded down $1.14 during trading hours on Friday, hitting $15.35. 29,362,599 shares of the company's stock were exchanged, compared to its average volume of 31,931,796. The business's 50 day moving average is $19.78 and its 200-day moving average is $19.73. 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 Inc. has a 12-month low of $8.60 and a 12-month high of $29.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to analysts' expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. Sell-side analysts forecast that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Corient Private Wealth LP raised its stake in shares of TeraWulf by 107.5% in the 2nd quarter. Corient Private Wealth LP now owns 24,433 shares of the company's stock valued at $603,000 after acquiring an additional 12,657 shares during the period. Amundi boosted its position in TeraWulf by 213.3% during the 2nd quarter. Amundi now owns 32,135 shares of the company's stock worth $794,000 after purchasing an additional 21,879 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in TeraWulf during the 2nd quarter worth $1,336,000. California State Teachers Retirement System increased its holdings in TeraWulf by 2,931.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company's stock valued at $268,275,000 after purchasing an additional 10,503,051 shares in the last quarter. Finally, Readystate Asset Management LP increased its holdings in TeraWulf by 6.1% in the 2nd quarter. Readystate Asset Management LP now owns 327,272 shares of the company's stock valued at $8,084,000 after purchasing an additional 18,808 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WULF shares. William Blair started coverage on shares of TeraWulf in a research note on Friday. They set an "outperform" rating on the stock. Morgan Stanley lowered their price objective on shares of TeraWulf from $72.00 to $62.50 and set an "overweight" rating for the company in a research note on Thursday, August 13th. Needham & Company LLC upped their price objective on TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $30.00 target price on shares of TeraWulf in a research report on Friday, August 21st. Finally, Jefferies Financial Group assumed coverage on TeraWulf in a report on Thursday, May 14th. They issued a "buy" rating and a $28.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.21.

TeraWulf Company Profile

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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