TeraWulf (NASDAQ:WULF) Downgraded by Zacks Research to “Strong Sell”

by · The Cerbat Gem

Zacks Research cut shares of TeraWulf (NASDAQ:WULF – Free Report) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on WULF. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. B. Riley Financial raised their price objective on TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein began coverage on shares of TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley lifted their price target on shares of TeraWulf from $66.50 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, TeraWulf has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

Check Out Our Latest Stock Analysis on WULF

TeraWulf Stock Performance

NASDAQ WULF opened at $21.97 on Thursday. The firm’s 50 day simple moving average is $24.59 and its 200 day simple moving average is $18.65. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of -8.86 and a beta of 3.73. 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 1 year low of $4.64 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF – Get Free Report) last released its 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 the consensus estimate of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. As a group, research analysts expect that TeraWulf will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 3,945,052 shares in the company, valued at $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock valued at $12,221,864 over the last quarter. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WULF. Vanguard Group Inc. raised its position in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock valued at $1,610,000 after acquiring an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA increased its position in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after purchasing an additional 96,843 shares during the period. GeoSphere Capital Management LLC acquired a new stake in TeraWulf during the 4th quarter valued at approximately $2,872,000. Finally, Fortress Investment Group LLC bought a new position in TeraWulf during the 3rd quarter worth approximately $1,713,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

(Get Free Report)

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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