Paul Prager Sells 137,500 Shares of TeraWulf (NASDAQ:WULF) Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Price Performance

TeraWulf stock traded down $1.14 during midday trading on Friday, hitting $15.35. 29,362,599 shares of the company were exchanged, compared to its average volume of 31,931,796. The company’s fifty day moving average price is $19.78 and its 200-day moving average price is $19.73. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. TeraWulf Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The firm had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same period last year, the business earned ($0.05) EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. raised its stake in TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares in the last quarter. Solstein Capital LLC bought a new stake in TeraWulf during the 4th quarter valued at $34,000. Comerica Bank boosted its position in TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares during the period. Finally, CoreCap Advisors LLC boosted its position in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after acquiring an additional 747 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WULF has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating on shares of TeraWulf in a research note on Friday, August 21st. Chardan Capital reissued a “buy” rating and set a $32.00 target price on shares of TeraWulf in a report on Wednesday, August 5th. Morgan Stanley decreased their price target on shares of TeraWulf from $72.00 to $62.50 and set an “overweight” rating for the company in a report on Thursday, August 13th. Needham & Company LLC raised their target price on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

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.