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

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WULF. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating for the company. Northland Securities reissued an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $9.50 target price on shares of TeraWulf in a report on Monday, January 13th. Finally, B. Riley lifted their target price on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Up 7.1 %

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -18.00 and a beta of 2.70. The stock has a 50 day moving average of $5.02 and a 200 day moving average of $5.56.

TeraWulf (NASDAQ:WULF) last posted its quarterly 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). 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%. The firm’s revenue was up 50.2% compared to the same quarter last year. As a group, analysts predict that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares in the last quarter. State Street Corp raised its stake in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after acquiring an additional 227,186 shares in the last quarter. GoalVest Advisory LLC acquired a new position in TeraWulf during the fourth quarter worth about $651,000. Intech Investment Management LLC acquired a new position in TeraWulf during the third quarter worth about $340,000. Finally, Barclays PLC raised its stake in TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after acquiring an additional 343,016 shares in the last quarter. 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.