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.

TeraWulf (NASDAQ:WULF - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.

A number of other research firms also recently commented on WULF. JMP Securities lifted their price target on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a research note on Friday, August 15th. Rosenblatt Securities lifted their price target on TeraWulf from $10.50 to $12.00 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald lifted their price target on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price target for the company in a research note on Thursday, May 22nd. Finally, Roth Capital lifted their target price on TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $10.89.

TeraWulf Stock Down 0.3%

Shares of TeraWulf stock opened at $9.16 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of -26.17 and a beta of 3.17. TeraWulf has a 1-year low of $2.06 and a 1-year high of $10.71. The business has a 50-day moving average of $5.40 and a 200-day moving average of $4.15. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly 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 firm had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The firm's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, equities analysts forecast that TeraWulf will post -0.17 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $39,744.00. Following the completion of the transaction, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.88% of the company's stock.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company's stock worth $29,000 after buying an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of TeraWulf by 265.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company's stock worth $29,000 after buying an additional 4,800 shares during the period. Advisors Asset Management Inc. boosted its position 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 worth $30,000 after buying an additional 2,748 shares during the period. CoreCap Advisors LLC boosted its position in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after buying an additional 3,054 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in TeraWulf during the second quarter worth approximately $41,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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