TeraWulf (NASDAQ:WULF) Stock Price Target Lowered at B. Riley Financial

TeraWulf (NASDAQ:WULF) had its price target cut by stock analysts at B. Riley Financial from $40.00 to $26.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial‘s price objective points to a potential upside of 115.93% from the company’s previous close.

A number of other analysts have also recently weighed in on WULF. Needham & Company LLC boosted their target price on shares of TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. UBS Group began coverage on shares of TeraWulf in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company began coverage on TeraWulf in a research note on Thursday, September 17th. They issued an “overweight” rating and a $30.00 price target on the stock. Chardan Capital restated a “buy” rating and issued a $32.00 target price on shares of TeraWulf in a research note on Wednesday, August 5th. Finally, Freedom Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.35.

TeraWulf Stock Performance

Shares of TeraWulf stock traded down $0.71 during trading on Friday, reaching $12.04. The company’s stock had a trading volume of 5,605,978 shares, compared to its average volume of 32,175,041. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 27.25. The business’s 50-day moving average price is $14.77 and its 200-day moving average price is $18.02. TeraWulf has a 52 week low of $10.35 and a 52 week high of $29.84. The firm has a market cap of $6.01 billion, a PE ratio of -2.77 and a beta of 3.80.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share 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 business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts forecast that TeraWulf will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael C. Bucella acquired 6,085 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director owned 350,789 shares of the company’s stock, valued at $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was 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 owned 3,807,552 shares in the company, valued at $64,956,837.12. This represents a 3.49% decrease in their ownership of the stock. 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. In the last 90 days, insiders bought 11,968 shares of company stock valued at $189,962. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently modified their holdings of WULF. CoreCap Advisors LLC raised its position in TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares during the period. Ameritas Advisory Services LLC bought a new stake in TeraWulf in the second quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TeraWulf during the third quarter valued at about $45,000. Summit Securities Group LLC bought a new position in shares of TeraWulf in the 1st quarter worth approximately $48,000. Finally, Solstein Capital LLC bought a new stake in shares of TeraWulf during the 2nd quarter valued at $74,000. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.