TeraWulf Inc. (NASDAQ:WULF - Get Free Report) CEO Paul Prager sold 137,500 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 3,807,552 shares in the company, valued at $64,956,837.12. The trade was a 3.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
TeraWulf Price Performance
WULF opened at $15.35 on Friday. 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 stock has a market capitalization of $7.66 billion, a P/E ratio of -3.51 and a beta of 3.76. The stock has a 50-day moving average price of $19.51 and a 200-day moving average price of $19.70. TeraWulf Inc. has a 12-month low of $8.60 and a 12-month high of $29.84.
TeraWulf (NASDAQ:WULF - Get Free Report) last released its 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 return on equity of 458.62% and a negative net margin of 1,179.94%.The firm had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. The business's quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts predict that TeraWulf Inc. will post -0.94 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
WULF has been the subject of several analyst reports. Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $37.00 target price on shares of TeraWulf in a research note on Wednesday, July 15th. Jefferies Financial Group began coverage on TeraWulf in a report on Thursday, May 14th. They set a "buy" rating and a $28.00 target price for the company. Needham & Company LLC lifted their price target on TeraWulf from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, Sanford C. Bernstein assumed coverage on TeraWulf in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $46.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.21.
Check Out Our Latest Analysis on WULF
Hedge Funds Weigh In On TeraWulf
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after buying an additional 9,162,958 shares during the last quarter. Engle Capital Management L.P. grew its stake in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock worth $42,570,000 after acquiring an additional 2,512,600 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company's stock worth $1,610,000 after acquiring an additional 43,574 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of TeraWulf by 178.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company's stock valued at $1,735,000 after acquiring an additional 96,843 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of TeraWulf in the 1st quarter worth about $53,418,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
About TeraWulf
(
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.
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