TeraWulf (NASDAQ:WULF) Trading Up 5.3% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) was up 5.3% during mid-day trading on Tuesday . The company traded as high as $2.84 and last traded at $2.88. Approximately 11,288,142 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 26,686,959 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

A number of brokerages have issued reports on WULF. Needham & Company LLC reiterated a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating for the company. B. Riley boosted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research report on Monday, January 6th. Finally, Northland Securities reissued an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.71.

TeraWulf Price Performance

The stock has a market cap of $1.07 billion, a PE ratio of -13.93 and a beta of 2.70. The company’s fifty day moving average is $4.15 and its 200-day moving average is $5.43.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.43 million. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. Analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Trading of TeraWulf

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its position in TeraWulf by 1,760.0% during the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock worth $6,671,000 after acquiring an additional 1,115,228 shares during the period. California State Teachers Retirement System boosted its holdings in TeraWulf by 13.3% in the 4th quarter. California State Teachers Retirement System now owns 266,955 shares of the company’s stock worth $1,511,000 after buying an additional 31,236 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of TeraWulf by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 682,348 shares of the company’s stock valued at $3,862,000 after acquiring an additional 25,828 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of TeraWulf in the fourth quarter valued at approximately $7,591,000. Finally, Forum Financial Management LP acquired a new stake in shares of TeraWulf in the fourth quarter worth approximately $68,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.