TeraWulf (NASDAQ:WULF) Shares Climb 8.2% - What's Next?

Key Points

• TeraWulf shares rose 8.2% to $16.13 in Friday trading, though volume was about 85% below the average session level.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $33.33, despite one firm cutting its target to $30.
• The company reported a sharp quarterly loss of $1.94 per share, missing estimates by $1.70, while revenue fell 6% year over year to $44.77 million. CEO Paul Prager sold shares under a pre-arranged trading plan, while a director purchased approximately $90,000 of stock.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) were up 8.2% during trading on Friday. The company traded as high as $15.92 and last traded at $16.1280. Approximately 4,599,682 shares changed hands during trading, a decline of 85% from the average session volume of 31,088,104 shares. The stock had previously closed at $14.91.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of TeraWulf from $33.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. HC Wainwright reissued a "buy" rating on shares of TeraWulf in a report on Friday, August 21st. Citigroup assumed coverage on shares of TeraWulf in a research report on Monday, June 29th. They issued a "buy" rating and a $36.00 price target on the stock. Bank of America started coverage on shares of TeraWulf in a report on Monday, June 15th. They set a "buy" rating and a $34.00 price objective on the stock. Finally, Zacks Research raised shares of TeraWulf from a "strong sell" rating to a "hold" rating in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.33.

TeraWulf Stock Performance

The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $7.74 billion, a P/E ratio of -3.56 and a beta of 3.80. The stock's 50 day moving average is $16.45 and its two-hundred day moving average is $19.77.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly 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). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities analysts predict that TeraWulf Inc. will post -1 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, 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 transaction 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 represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella acquired 6,085 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares of the company's stock, valued at approximately $5,188,169.31. This trade represents a 1.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 11,968 shares of company stock worth $189,962 over the last three months. Company insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new stake in TeraWulf during the second quarter worth about $11,945,000. WINTON GROUP Ltd acquired a new position in shares of TeraWulf in the 2nd quarter worth approximately $5,550,000. Integrated Wealth Concepts LLC grew its position in TeraWulf by 8.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 48,782 shares of the company's stock worth $1,205,000 after acquiring an additional 3,617 shares during the last quarter. IFP Advisors Inc grew its position in TeraWulf by 75.9% during the 2nd quarter. IFP Advisors Inc now owns 15,124 shares of the company's stock worth $374,000 after acquiring an additional 6,524 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in TeraWulf during the 2nd quarter valued at $540,000. 62.49% of the stock is owned by 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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