TeraWulf (NASDAQ:WULF) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• TeraWulf has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting concerns over its stock performance.
• Despite the downgrade, other firms like JMP Securities and Rosenblatt Securities have increased their price targets for TeraWulf, indicating mixed analyst sentiment.
• The company's share price has fluctuated recently, opening at $9.16, with significant movements in debt ratios and quarterly earnings reporting a loss per share that missed expectations.

Wall Street Zen downgraded shares of TeraWulf (NASDAQ:WULF - Free Report) from a hold rating to a sell rating in a research note published on Sunday morning.

Several other equities research analysts have also weighed in on WULF. Northland Securities set a $12.00 price objective on TeraWulf in a report on Thursday, August 14th. Roth Capital lifted their price objective on TeraWulf from $7.00 to $12.50 and gave the stock a "buy" rating in a report on Friday, August 15th. JMP Securities lifted their price objective on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a report on Friday, August 15th. B. Riley lifted their price objective on TeraWulf from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Cantor Fitzgerald lifted their price objective on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $11.22.

TeraWulf Stock Up 0.1%

NASDAQ:WULF traded up $0.01 during trading hours on Friday, hitting $9.45. 35,622,346 shares of the company traded hands, compared to its average volume of 65,769,864. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96. The firm's 50-day simple moving average is $5.93 and its 200-day simple moving average is $4.30. TeraWulf has a one year low of $2.06 and a one year high of $10.71. The company has a market cap of $3.70 billion, a PE ratio of -27.00 and a beta of 3.17.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The business had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The company's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Equities analysts predict that TeraWulf will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Amanda Fabiano sold 4,600 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director owned 40,769 shares in the company, valued at $352,244.16. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.88% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. lifted its position in TeraWulf by 5.2% during the second quarter. Sei Investments Co. now owns 37,529 shares of the company's stock valued at $164,000 after buying an additional 1,869 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock valued at $181,000 after acquiring an additional 2,258 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company's stock valued at $30,000 after acquiring an additional 2,748 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of TeraWulf by 5.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company's stock valued at $261,000 after acquiring an additional 2,905 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after acquiring an additional 3,054 shares in the last quarter. Institutional investors own 62.49% of the company's stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.