TeraWulf (NASDAQ:WULF) Hits New 12-Month High - Time to Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $6.72 and last traded at $6.72, with a volume of 942661 shares traded. The stock had previously closed at $6.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WULF shares. Stifel Canada upgraded shares of TeraWulf from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, October 4th. B. Riley reaffirmed a "buy" rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Needham & Company LLC assumed coverage on TeraWulf in a research note on Wednesday, September 4th. They issued a "buy" rating and a $6.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, October 3rd. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, TeraWulf has a consensus rating of "Buy" and a consensus price target of $6.17.

TeraWulf Stock Up 7.4 %

The stock has a fifty day simple moving average of $4.69 and a two-hundred day simple moving average of $3.92.

TeraWulf (NASDAQ:WULF - Get Free Report) 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 business had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. Equities research analysts expect that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of TeraWulf

Hedge funds have recently added to or reduced their stakes in the stock. Sippican Capital Advisors raised its holdings in TeraWulf by 31.2% in the 3rd quarter. Sippican Capital Advisors now owns 27,150 shares of the company's stock valued at $127,000 after buying an additional 6,450 shares during the last quarter. JFS Wealth Advisors LLC increased its position in TeraWulf by 28.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 45,000 shares of the company's stock valued at $211,000 after acquiring an additional 10,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of TeraWulf by 43.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company's stock valued at $3,073,000 after acquiring an additional 199,345 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of TeraWulf during the third quarter worth $9,489,000. Finally, Jade Capital Advisors LLC bought a new stake in shares of TeraWulf in the third quarter worth $374,000. 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.