TeraWulf (NASDAQ:WULF) Coverage Initiated at Compass Point

Analysts at Compass Point initiated coverage on shares of TeraWulf (NASDAQ:WULF) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Compass Point’s price target would indicate a potential upside of 66.67% from the company’s previous close.

Several other analysts have also commented on WULF. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $4.00 price objective on shares of TeraWulf in a report on Tuesday. Northland Securities began coverage on TeraWulf in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $4.25 price objective on the stock. Finally, B. Riley lowered their price objective on TeraWulf from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 18th.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $1.80 on Thursday. The stock has a fifty day simple moving average of $2.61 and a two-hundred day simple moving average of $1.72. TeraWulf has a 12-month low of $0.54 and a 12-month high of $4.04. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.66.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $15.46 million during the quarter, compared to the consensus estimate of $21.41 million. TeraWulf had a negative return on equity of 83.94% and a negative net margin of 254.17%. As a group, equities research analysts expect that TeraWulf will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul B. Prager acquired 50,000 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $1.90 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the chief executive officer now directly owns 525,000 shares in the company, valued at approximately $997,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 55,488 shares of company stock worth $102,480. Corporate insiders own 36.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WULF. Vanguard Group Inc. grew its stake in TeraWulf by 5,028.0% in the first quarter. Vanguard Group Inc. now owns 2,248,383 shares of the company’s stock worth $18,886,000 after purchasing an additional 2,204,538 shares in the last quarter. BlackRock Inc. grew its stake in TeraWulf by 107.0% in the first quarter. BlackRock Inc. now owns 3,603,712 shares of the company’s stock worth $3,380,000 after purchasing an additional 1,863,027 shares in the last quarter. Van ECK Associates Corp grew its stake in TeraWulf by 154.4% in the first quarter. Van ECK Associates Corp now owns 2,850,598 shares of the company’s stock worth $2,673,000 after purchasing an additional 1,730,128 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in TeraWulf in the first quarter worth approximately $1,214,000. Finally, Geode Capital Management LLC grew its stake in TeraWulf by 295.2% in the first quarter. Geode Capital Management LLC now owns 1,513,649 shares of the company’s stock worth $1,420,000 after purchasing an additional 1,130,659 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.