TeraWulf (NASDAQ:WULF) Shares Up 5.3% – Time to Buy?

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They issued a “market perform” rating for the company. B. Riley boosted their target price on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Jones Trading started coverage on TeraWulf in a research note on Monday. They issued a “buy” rating and a $4.00 price target on the stock. 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 company’s stock. According to data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and an average price target of $8.71.

TeraWulf Stock Up 2.0 %

The firm has a fifty day moving average of $4.15 and a 200-day moving average of $5.43. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -13.93 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data 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 net margin of 41.88% and a negative return on equity of 15.91%. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. TeraWulf’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, research analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of the stock. Rosenberg Matthew Hamilton purchased a new position in shares of TeraWulf during the fourth quarter valued at approximately $32,000. FMR LLC lifted its stake in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after purchasing an additional 3,054 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of TeraWulf in the third quarter valued at $47,000. Finally, Hodges Capital Management Inc. acquired a new position in TeraWulf in the third quarter valued at $47,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

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.