TeraWulf (NASDAQ:WULF) Stock Price Down 6.4% on Insider Selling

TeraWulf Inc. (NASDAQ:WULF)’s share price traded down 6.4% on Wednesday after an insider sold shares in the company. The company traded as low as $23.09 and last traded at $23.1250. 4,343,002 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 30,404,049 shares. The stock had previously closed at $24.70.

Specifically, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods upped their price target on shares of TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of TeraWulf in a research report on Monday, May 11th. Finally, Jefferies Financial Group started coverage on shares of TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.10.

TeraWulf Stock Performance

The firm has a market cap of $10.50 billion, a PE ratio of -8.54 and a beta of 3.73. The business has a 50 day simple moving average of $24.42 and a two-hundred day simple moving average of $18.29. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) earnings per share. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently added to or reduced their stakes in the stock. Kraematon Investment Advisors Inc. lifted its stake in shares of TeraWulf by 2.3% during 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 stake in TeraWulf by 5.0% in the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock valued at $255,000 after purchasing an additional 1,056 shares during the last quarter. Franklin Resources Inc. grew its stake in TeraWulf by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after purchasing an additional 1,259 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in TeraWulf by 10.7% in the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock worth $152,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Xponance Inc. raised its holdings in TeraWulf by 7.3% in the third quarter. Xponance Inc. now owns 22,215 shares of the company’s stock worth $254,000 after purchasing an additional 1,503 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other 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.