Walter Carter Sells 130,626 Shares of TeraWulf (NASDAQ:WULF) Stock

Key Points

• Director Walter Carter sold 130,626 TeraWulf shares at an average price of $15.14, generating approximately $1.98 million and reducing his position by 36.31% to 229,090 shares.
• TeraWulf shares fell 3.2% to $14.65. The company recently reported a quarterly loss of $1.94 per share, significantly missing the $0.24 consensus estimate, while revenue declined 6% year over year to $44.77 million.
• Despite the weak results, analysts maintain a consensus “Moderate Buy” rating with an average price target of $34.21; institutional investors own 62.49% of the stock.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) Director Walter Carter sold 130,626 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TeraWulf Stock Down 3.2%

Shares of WULF traded down $0.48 during midday trading on Tuesday, reaching $14.65. The stock had a trading volume of 26,250,173 shares, compared to its average volume of 31,673,682. TeraWulf Inc. has a 1-year low of $8.60 and a 1-year high of $29.84. The company's fifty day simple moving average is $19.25 and its two-hundred day simple moving average is $19.71. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -3.35 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). The firm 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 Inc. will post -0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

WULF has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on TeraWulf from $72.00 to $62.50 and set an "overweight" rating on the stock in a report on Thursday, August 13th. HC Wainwright reaffirmed a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. Northland Securities set a $30.00 price objective on shares of TeraWulf in a report on Monday, May 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $37.00 price objective on shares of TeraWulf in a report on Wednesday, July 15th. Finally, Needham & Company LLC boosted their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf has a consensus rating of "Moderate Buy" and an average price target of $34.21.

Institutional Trading of TeraWulf

Large investors have recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Millennium Management LLC boosted its stake in TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. boosted its stake in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after purchasing an additional 2,258 shares during the period. Creative Planning grew its position in TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after purchasing an additional 33,317 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in TeraWulf by 10.6% during the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after purchasing an additional 5,432 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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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