TeraWulf (NASDAQ:WULF) Stock Price Up 5.5% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s stock price shot up 5.5% during mid-day trading on Wednesday . The stock traded as high as $3.09 and last traded at $3.12. 1,807,616 shares were traded during mid-day trading, a decline of 93% from the average session volume of 26,309,858 shares. The stock had previously closed at $2.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WULF shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, March 3rd. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Down 2.7 %

The stock has a fifty day moving average of $4.55 and a 200-day moving average of $5.47. The firm has a market capitalization of $1.24 billion, a P/E ratio of -16.05 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share 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 the consensus estimate of $37.43 million. The firm’s revenue was up 50.2% compared to the same quarter last year. As a group, analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WULF. Driehaus Capital Management LLC increased its stake in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock valued at $72,070,000 after buying an additional 412,877 shares during the period. Geode Capital Management LLC boosted its holdings in TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after acquiring an additional 453,429 shares during the last quarter. State Street Corp increased its position in TeraWulf by 3.8% in the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares during the period. Dimensional Fund Advisors LP increased its position in TeraWulf by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp raised its holdings in TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after purchasing an additional 2,028,383 shares during 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.