UBS Group Initiates Coverage on TeraWulf (NASDAQ:WULF)

Investment analysts at UBS Group began coverage on shares of TeraWulf (NASDAQ:WULF) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 47.33% from the company’s current price.

Several other brokerages have also recently issued reports on WULF. Citigroup started coverage on TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of TeraWulf in a report on Friday, August 21st. William Blair assumed coverage on shares of TeraWulf in a research report on Friday, August 28th. They set an “outperform” rating on the stock. Wells Fargo & Company assumed coverage on shares of TeraWulf in a report on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Freedom Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, September 8th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

TeraWulf Price Performance

WULF stock traded down $0.06 during mid-day trading on Wednesday, reaching $16.29. The company’s stock had a trading volume of 25,905,552 shares, compared to its average volume of 31,446,123. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The company’s 50 day moving average is $16.90 and its two-hundred day moving average is $19.74. TeraWulf has a fifty-two week low of $10.43 and a fifty-two week high of $29.84. The stock has a market cap of $8.13 billion, a PE ratio of -3.73 and a beta of 3.70.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter last year, the company earned ($0.05) earnings per share. TeraWulf’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts expect that TeraWulf will post -0.95 EPS for the current year.

Insider Buying and Selling at TeraWulf

In related news, Director Walter Carter sold 130,626 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the sale, the director owned 229,090 shares in the company, valued at approximately $3,468,422.60. The trade was a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Bucella bought 6,085 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director directly owned 350,789 shares in the company, valued at $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 11,968 shares of company stock valued at $189,962 and have sold 405,626 shares valued at $7,980,928. 15.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WULF. BlueCrest Capital Management Ltd purchased a new stake in TeraWulf during the 2nd quarter worth approximately $11,945,000. WINTON GROUP Ltd purchased a new position in TeraWulf in the 2nd quarter valued at approximately $5,550,000. Integrated Wealth Concepts LLC grew its stake in shares of TeraWulf by 8.0% in the second quarter. Integrated Wealth Concepts LLC now owns 48,782 shares of the company’s stock worth $1,205,000 after acquiring an additional 3,617 shares in the last quarter. IFP Advisors Inc grew its stake in shares of TeraWulf by 75.9% in the second quarter. IFP Advisors Inc now owns 15,124 shares of the company’s stock worth $374,000 after acquiring an additional 6,524 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of TeraWulf during the second quarter worth $540,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

TeraWulf Inc (NASDAQ: WULF) develops and operates digital-asset mining and high-performance computing infrastructure. The company has focused primarily on bitcoin mining while expanding its data-center platform to support artificial intelligence, cloud computing and other high-density computing applications.

TeraWulf emphasizes access to low-cost, predominantly zero-carbon energy and designs, builds and operates energy-intensive data-center facilities. Its operations have included the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which was developed in collaboration with Cumulus Coin.