TeraWulf (NASDAQ:WULF) Shares Down 8.1% – Time to Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF) dropped 8.1% on Friday. The company traded as low as $12.15 and last traded at $11.9840. Approximately 5,412,097 shares were traded during trading, a decline of 84% from the average session volume of 33,468,598 shares. The stock had previously closed at $13.04.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WULF. TD Cowen began coverage on TeraWulf in a research note on Monday, October 12th. They set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC lowered their price objective on TeraWulf from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings upgraded shares of TeraWulf from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Morgan Stanley cut their target price on shares of TeraWulf from $65.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, B. Riley Financial reduced their target price on shares of TeraWulf from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.18.

TeraWulf Trading Down 5.3%

The company has a market cap of $6.19 billion, a price-to-earnings ratio of -3.78 and a beta of 4.00. The firm has a 50 day moving average price of $14.04 and a two-hundred day moving average price of $17.93. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 5.35.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, November 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. TeraWulf had a positive return on equity of 87.30% and a negative net margin of 410.92%. The company had revenue of $76.23 million for the quarter, compared to analyst estimates of $62.49 million. During the same period in the previous year, the firm earned ($1.13) earnings per share. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. As a group, equities analysts forecast that TeraWulf Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at TeraWulf

In other news, Director Walter E. Carter sold 130,626 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares in the company, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the transaction, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. This represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

A number of large investors have recently bought and sold shares of the business. Engle Capital Management L.P. grew its stake in TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the period. The Manufacturers Life Insurance Company bought a new stake in TeraWulf in the second quarter worth approximately $3,534,000. Jennison Associates LLC acquired a new position in TeraWulf in the first quarter valued at approximately $53,418,000. Troluce Capital Advisors LLC bought a new position in shares of TeraWulf during the 1st quarter worth approximately $33,189,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of TeraWulf during the 2nd quarter worth approximately $14,223,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc. develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing. Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.