TeraWulf (NASDAQ:WULF) Upgraded by Sanford C. Bernstein to Strong-Buy Rating

Sanford C. Bernstein upgraded shares of TeraWulf (NASDAQ:WULF) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on WULF. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Friday, March 27th. Oppenheimer restated an “outperform” rating and set a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. Morgan Stanley set a $66.50 price target on shares of TeraWulf in a report on Wednesday. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Finally, B. Riley Financial boosted their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and a consensus target price of $31.72.

TeraWulf Trading Up 0.1%

WULF opened at $26.19 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The company has a fifty day moving average price of $20.92 and a two-hundred day moving average price of $16.58. The company has a market cap of $12.98 billion, a P/E ratio of -10.56 and a beta of 3.82. TeraWulf has a 1-year low of $3.39 and a 1-year high of $27.47.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) EPS 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 company’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) earnings per share. Analysts predict that TeraWulf will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Patrick Fleury sold 573,586 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares in the company, valued at approximately $51,728,700. The trade was a 15.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 8,590 shares of company stock worth $130,291 and have sold 1,120,850 shares worth $20,462,114. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. Vanguard Group Inc. boosted its stake in TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of TeraWulf during the 3rd quarter valued at approximately $69,006,000. Wellington Management Group LLP lifted its stake in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of TeraWulf during the 1st quarter valued at approximately $53,418,000. Finally, Marshall Wace LLP lifted its stake in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares in the last quarter. 62.49% of the stock is currently 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.