TeraWulf (NASDAQ:WULF) Shares Gap Up - What's Next?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $3.20, but opened at $3.35. TeraWulf shares last traded at $3.38, with a volume of 6,148,247 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WULF. Rosenblatt Securities restated a "buy" rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, March 3rd. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Cantor Fitzgerald restated an "overweight" rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $9.50.

TeraWulf Trading Down 6.0 %

The company has a market cap of $1.06 billion, a price-to-earnings ratio of -13.93 and a beta of 2.70. The firm has a 50-day moving average price of $4.30 and a 200 day moving average price of $5.44.

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TeraWulf (NASDAQ:WULF - Get Free Report) last released 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 return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. The firm's revenue was up 50.2% compared to the same quarter last year. Research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company's stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. State Street Corp grew its holdings in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company's stock worth $29,405,000 after buying an additional 227,186 shares in the last quarter. GoalVest Advisory LLC bought a new stake in TeraWulf during the 4th quarter valued at $651,000. Intech Investment Management LLC bought a new position in shares of TeraWulf in the third quarter worth $340,000. Finally, Barclays PLC increased its holdings in shares of TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after purchasing an additional 343,016 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.