Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Target Price at $34.60

TeraWulf Inc. (NASDAQ:WULF) has received an average rating of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $34.6029.

WULF has been the topic of a number of research reports. Needham & Company LLC increased 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. Citigroup started coverage on shares of TeraWulf in a research note on Monday, June 29th. They issued a “buy” rating and a $36.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of TeraWulf in a research report on Wednesday, July 15th. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Zacks Research cut TeraWulf from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 520,850 shares of company stock worth $12,221,864. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 in the last quarter. Oppenheimer & Co. Inc. grew its holdings in TeraWulf by 45.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after acquiring an additional 96,843 shares in the last quarter. GeoSphere Capital Management LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at approximately $2,872,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of TeraWulf in the 4th quarter valued at approximately $600,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $18.16 on Friday. The firm has a market capitalization of $9.00 billion, a PE ratio of -7.32 and a beta of 3.73. TeraWulf has a 1 year low of $4.64 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50-day moving average is $24.14 and its two-hundred day moving average is $18.94.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data 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 during 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 company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) EPS. Analysts predict that TeraWulf will post -1.09 EPS for the current year.

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.