TeraWulf (NASDAQ:WULF) Upgraded to “Strong-Buy” at Freedom Capmkts

Freedom Capmkts upgraded shares of TeraWulf (NASDAQ:WULF) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

WULF has been the subject of several other reports. Zacks Research raised shares of TeraWulf from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of TeraWulf in a research note on Friday, August 21st. William Blair began coverage on TeraWulf in a research report on Friday, August 28th. They set an “outperform” rating for the company. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a research note on Wednesday, May 27th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.21.

TeraWulf Trading Up 8.2%

Shares of TeraWulf stock opened at $17.86 on Tuesday. TeraWulf has a 12-month low of $9.13 and a 12-month high of $29.84. The company has a market cap of $8.91 billion, a price-to-earnings ratio of -4.09 and a beta of 3.70. 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 price is $18.02 and its 200-day moving average price is $19.72.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. TeraWulf’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. On average, equities analysts expect that TeraWulf will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total value of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares in the company, valued at approximately $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella bought 3,023 shares of TeraWulf stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $50,000.42. Following the purchase, the director owned 341,844 shares of the company’s stock, valued at $5,654,099.76. The trade was a 0.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 405,626 shares of company stock worth $7,980,928. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in TeraWulf in the 2nd quarter worth approximately $577,805,000. California State Teachers Retirement System boosted its holdings in TeraWulf by 2,931.3% during the 2nd quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock valued at $268,275,000 after acquiring an additional 10,503,051 shares during the period. Voloridge Investment Management LLC bought a new position in TeraWulf during the 3rd quarter worth approximately $69,006,000. Bank of America Corp DE bought a new position in TeraWulf during the 2nd quarter worth approximately $140,057,000. Finally, Wellington Management Group LLP grew its position in TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after acquiring an additional 3,891,127 shares during the last quarter. 62.49% of the stock is currently owned by 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.