TeraWulf (NASDAQ:WULF) Price Target Cut to $30.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut TeraWulf’s price target to $30 from $33 while maintaining an “outperform” rating, implying roughly 82% upside from the reported $16.50 share price.
• Analyst sentiment remains broadly positive: TeraWulf has a consensus “Moderate Buy” rating and an average price target of $34.29, despite shares falling 8.2% in Tuesday trading.
• The company reported a significant quarterly loss, with earnings of -$1.01 per share versus a -$0.19 estimate, while CEO Paul Prager sold 137,500 shares under a pre-arranged trading plan.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $33.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 81.79% from the company's current price.

Several other research analysts have also weighed in on the company. Citigroup began coverage on TeraWulf in a research report on Monday, June 29th. They issued a "buy" rating and a $36.00 target price on the stock. B. Riley Financial increased their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Northland Securities set a $30.00 price objective on shares of TeraWulf in a report on Monday, May 4th. Chardan Capital initiated coverage on TeraWulf in a research report on Monday. They issued a "buy" rating and a $32.00 price target for the company. Finally, Needham & Company LLC increased their price objective on TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.29.

TeraWulf Stock Down 8.2%

NASDAQ:WULF traded down $1.48 during trading hours on Tuesday, hitting $16.50. 28,822,900 shares of the stock traded hands, compared to its average volume of 31,471,232. The firm has a 50 day moving average price of $23.69 and a 200 day moving average price of $19.23. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf has a fifty-two week low of $4.64 and a fifty-two week high of $29.84. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of -6.64 and a beta of 3.73.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts anticipate that TeraWulf will post -1.09 earnings per share for the current year.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 137,500 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer directly owned 3,945,052 shares of the company's stock, valued at approximately $104,938,383.20. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company's stock valued at $84,000 after purchasing an additional 681 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock valued at $36,000 after purchasing an additional 747 shares during the period. Kraematon Investment Advisors Inc. grew its position in TeraWulf by 2.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company's stock worth $488,000 after purchasing an additional 952 shares during the last quarter. R Squared Ltd grew its position in TeraWulf by 5.0% in the 4th quarter. R Squared Ltd now owns 22,207 shares of the company's stock worth $255,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of TeraWulf by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 63,005 shares of the company's stock worth $724,000 after purchasing an additional 1,259 shares during the period. 62.49% of the stock is owned by institutional investors.

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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