TeraWulf (NASDAQ:WULF) Upgraded to “Strong-Buy” at Sanford C. Bernstein

TeraWulf (NASDAQ:WULF) was upgraded by analysts at Sanford C. Bernstein to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

WULF has been the subject of a number of other research reports. Morgan Stanley set a $66.50 target price on TeraWulf in a report on Wednesday. Northland Securities set a $30.00 price target on TeraWulf in a research report on Monday, May 4th. Arete Research assumed coverage on TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald upped their price target on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of TeraWulf in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.72.

TeraWulf Stock Up 0.1%

TeraWulf stock opened at $26.19 on Wednesday. The business has a fifty day moving average of $20.92 and a two-hundred day moving average of $16.58. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The firm has a market cap of $12.98 billion, a P/E ratio of -10.56 and a beta of 3.82. TeraWulf has a twelve month low of $3.39 and a twelve month high of $27.47.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. On average, analysts forecast that TeraWulf will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 1,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares in the company, valued at $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 8,590 shares of company stock valued at $130,291 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at $29,000. Vermillion Wealth Management Inc. increased its position in shares of TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at $34,000. Comerica Bank increased its position in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the period. Finally, First United Bank & Trust acquired a new position in shares of TeraWulf in the 1st quarter valued at $37,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.