TeraWulf (NASDAQ:WULF) Trading Up 6.4% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) was up 6.4% during mid-day trading on Friday . The company traded as high as $3.60 and last traded at $3.57. Approximately 12,928,935 shares changed hands during trading, a decline of 71% from the average daily volume of 45,204,652 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

A number of analysts recently issued reports on WULF shares. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of TeraWulf in a research note on Monday, March 3rd. B. Riley upped their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. Finally, Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

The company has a market cap of $1.39 billion, a price-to-earnings ratio of -18.00 and a beta of 2.70. The firm has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.56.

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

Institutional Investors Weigh In On TeraWulf

Several large investors have recently made changes to their positions in WULF. Creative Planning acquired a new stake in shares of TeraWulf in the 3rd quarter valued at approximately $54,000. Hollencrest Capital Management lifted its holdings in TeraWulf by 30.2% during the 3rd quarter. Hollencrest Capital Management now owns 77,593 shares of the company’s stock valued at $363,000 after purchasing an additional 18,000 shares during the last quarter. TRU Independence Asset Management 2 LLC acquired a new stake in TeraWulf during the 3rd quarter valued at $234,000. Victory Capital Management Inc. lifted its holdings in TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after purchasing an additional 4,093 shares during the last quarter. Finally, KBC Group NV acquired a new stake in TeraWulf during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.