TeraWulf (NASDAQ:WULF) Reaches New 12-Month High – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $7.36 and last traded at $7.29, with a volume of 6910029 shares. The stock had previously closed at $6.21.

Analyst Ratings Changes

A number of equities analysts have issued reports on WULF shares. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Rosenblatt Securities restated a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price for the company. Finally, Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $6.17.

TeraWulf Stock Performance

The firm has a fifty day moving average price of $5.04 and a 200 day moving average price of $4.16.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. On average, research analysts expect that TeraWulf Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of TeraWulf in the 2nd quarter valued at $22,443,000. Hood River Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter worth $20,532,000. Driehaus Capital Management LLC bought a new position in TeraWulf during the second quarter worth about $9,948,000. Finally, Duquesne Family Office LLC bought a new stake in shares of TeraWulf in the second quarter worth about $9,301,000. 62.49% of the stock is owned by institutional investors.

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.