TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $4.50 and last traded at $4.30, with a volume of 8953365 shares trading hands. The stock had previously closed at $4.39.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Compass Point lowered their price objective on TeraWulf from $4.50 to $3.50 and set a "buy" rating for the company in a research report on Thursday, March 21st. Cantor Fitzgerald assumed coverage on shares of TeraWulf in a research note on Tuesday, June 11th. They issued an "overweight" rating and a $7.00 price target on the stock. Rosenblatt Securities assumed coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a "buy" rating and a $4.20 price objective on the stock. Finally, B. Riley lowered their target price on shares of TeraWulf from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, April 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4.16.
Check Out Our Latest Stock Report on WULF
TeraWulf Price Performance
The business's fifty day moving average price is $2.44 and its 200 day moving average price is $2.15.
TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The business had revenue of $42.43 million during the quarter, compared to analysts' expectations of $41.86 million. Analysts predict that TeraWulf Inc. will post -0.06 earnings per share for the current fiscal year.
Insider Buying and Selling at TeraWulf
In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now directly owns 337,245 shares of the company's stock, valued at $1,096,046.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 24.88% of the company's stock.
Hedge Funds Weigh In On TeraWulf
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in shares of TeraWulf by 50.8% in the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company's stock valued at $17,708,000 after purchasing an additional 2,268,870 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TeraWulf by 17.7% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company's stock worth $5,897,000 after acquiring an additional 1,372,195 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of TeraWulf by 356.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company's stock worth $1,260,000 after acquiring an additional 780,786 shares during the period. Finally, Luminus Management LLC raised its holdings in TeraWulf by 97.4% during the third quarter. Luminus Management LLC now owns 1,099,393 shares of the company's stock worth $1,385,000 after purchasing an additional 542,496 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company's stock.
About TeraWulf
(
Get Free Report)
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.
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