TeraWulf (NASDAQ:WULF) Shares Up 7.1% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares traded up 7.1% during trading on Monday . The company traded as high as $5.65 and last traded at $5.61. 7,419,071 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 19,900,736 shares. The stock had previously closed at $5.24.

Wall Street Analysts Forecast Growth

WULF has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a report on Thursday, October 3rd. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. B. Riley reissued a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, October 7th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $6.17.

TeraWulf Price Performance

The stock has a 50-day simple moving average of $4.48 and a two-hundred day simple moving average of $3.80.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The company had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, equities analysts forecast that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of TeraWulf

Several large investors have recently modified their holdings of the company. Jade Capital Advisors LLC purchased a new position in TeraWulf in the third quarter worth about $374,000. Avaii Wealth Management LLC bought a new position in shares of TeraWulf in the 3rd quarter worth approximately $132,000. Aspect Partners LLC purchased a new position in shares of TeraWulf in the third quarter worth approximately $26,000. Creative Planning bought a new stake in TeraWulf during the third quarter valued at approximately $54,000. Finally, Fiduciary Alliance LLC bought a new stake in TeraWulf during the third quarter valued at approximately $75,000. Institutional investors 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.