TeraWulf (NASDAQ:WULF) Raised to Strong-Buy at Freedom Capmkts

TeraWulf (NASDAQ:WULF) was upgraded by analysts at Freedom Capmkts to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other equities analysts have also recently commented on the company. Chardan Capital reaffirmed a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Zacks Research upgraded TeraWulf from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of TeraWulf in a research report on Friday, August 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Trading Up 8.2%

Shares of NASDAQ:WULF opened at $17.86 on Tuesday. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day moving average is $18.02 and its 200-day moving average is $19.72. The company has a market cap of $8.91 billion, a P/E ratio of -4.09 and a beta of 3.70. TeraWulf has a 52-week low of $9.13 and a 52-week high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to the consensus estimate of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. TeraWulf’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. Equities research analysts predict that TeraWulf will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella purchased 2,860 shares of TeraWulf stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $17.47 per share, with a total value of $49,964.20. Following the acquisition, the director directly owned 344,704 shares of the company’s stock, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 405,626 shares of company stock worth $7,980,928 over the last three months. 15.90% of the stock is currently owned by company insiders.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently added to or reduced their stakes in WULF. BlackRock Inc. bought a new position in shares of TeraWulf during the 2nd quarter worth approximately $577,805,000. Bank of America Corp DE boosted its position in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of TeraWulf by 2,931.3% during the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock worth $268,275,000 after buying an additional 10,503,051 shares during the last quarter. Morgan Stanley boosted its stake in shares of TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after buying an additional 318,842 shares in the last quarter. 62.49% of the stock is owned by institutional investors.

About TeraWulf

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.