Key Points
- TeraWulf CEO Paul Prager sold 137,500 shares on June 29 at an average price of $26.60, totaling about $3.66 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Following the transaction, Prager still directly owned 3,945,052 shares, valued at roughly $104.9 million, representing a 3.37% reduction in his position.
- The stock was trading lower and the company recently reported a wider-than-expected quarterly loss, with EPS of -$1.01 versus estimates of -$0.19, even as analysts largely maintain a Buy-leaning outlook and a consensus price target of $32.10.
TeraWulf Inc. (NASDAQ:WULF - Get Free Report) CEO Paul Prager sold 137,500 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,945,052 shares of the company's stock, valued at $104,938,383.20. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
TeraWulf Trading Down 4.5%
Shares of WULF stock opened at $23.58 on Thursday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a fifty day simple moving average of $24.39 and a two-hundred day simple moving average of $18.24. The firm has a market capitalization of $11.68 billion, a PE ratio of -9.51 and a beta of 3.73. TeraWulf Inc. has a 52-week low of $4.52 and a 52-week high of $29.84.
TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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%. TeraWulf's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. On average, analysts predict that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on WULF shares. Oppenheimer reissued an "outperform" rating and issued a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. B. Riley Financial increased their price objective on shares of TeraWulf from $27.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. Cantor Fitzgerald lifted their price objective on shares of TeraWulf from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Needham & Company LLC boosted their target price on shares of TeraWulf from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Morgan Stanley set a $66.50 target price on shares of TeraWulf in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.10.
Check Out Our Latest Stock Report on TeraWulf
Institutional Trading of TeraWulf
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after purchasing an additional 2,617,617 shares in the last quarter. Morgan Stanley increased its position in TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock worth $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC increased its position in TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock worth $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp raised its stake in TeraWulf by 4.2% during the fourth quarter. State Street Corp now owns 7,349,508 shares of the company's stock valued at $84,446,000 after purchasing an additional 298,645 shares in the last quarter. Institutional investors own 62.49% of the company's stock.
TeraWulf Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
