TeraWulf (NASDAQ:WULF) CEO Sells $2,345,750.00 in Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the sale, 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. The transaction was disclosed in a 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.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $15.35 on Monday. The firm has a fifty day moving average price of $19.51 and a two-hundred day moving average price of $19.72. The company has a market cap of $7.66 billion, a price-to-earnings ratio of -3.51 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf Inc. has a one year low of $8.60 and a one year high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) 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 business had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter last year, the business posted ($0.05) EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Analysts anticipate that TeraWulf Inc. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. B. Riley Financial upped their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Sanford C. Bernstein began coverage on TeraWulf in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price objective for the company. Bank of America started coverage on shares of TeraWulf in a research note on Monday, June 15th. They issued a “buy” rating and a $34.00 price objective for the company. Compass Point set a $40.00 price target on TeraWulf in a research report on Monday, July 6th. Finally, Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.21.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares in the last quarter. BlackRock Inc. bought a new stake in TeraWulf during the 2nd quarter valued at about $577,805,000. Bank of America Corp DE raised its holdings in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after buying an additional 2,617,617 shares during the last quarter. California State Teachers Retirement System raised its holdings in TeraWulf by 2,931.3% in the second quarter. California State Teachers Retirement System now owns 10,861,356 shares of the company’s stock worth $268,275,000 after buying an additional 10,503,051 shares during the last quarter. Finally, Morgan Stanley raised its holdings 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 buying an additional 724,286 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.