TeraWulf (NASDAQ:WULF) Shares Up 14.9% - Here's Why

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price rose 14.9% during mid-day trading on Tuesday . The stock traded as high as $2.60 and last traded at $2.59. Approximately 6,386,840 shares were traded during trading, a decline of 77% from the average daily volume of 27,739,409 shares. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

WULF has been the topic of several recent research reports. Northland Securities reissued an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a "market perform" rating on the stock. Rosenblatt Securities cut their price target on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Jones Trading initiated coverage on TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $7.86.

TeraWulf Price Performance

The stock has a fifty day simple moving average of $3.23 and a two-hundred day simple moving average of $5.18. The firm has a market capitalization of $1.02 billion, a P/E ratio of -13.22 and a beta of 2.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm's quarterly revenue was up 50.2% compared to the same quarter last year. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rosenberg Matthew Hamilton bought a new stake in shares of TeraWulf during the fourth quarter worth about $32,000. FMR LLC increased its holdings in 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 in the last quarter. Kraematon Investment Advisors Inc. purchased a new stake in shares of TeraWulf in the first quarter worth approximately $42,000. Regatta Capital Group LLC bought a new position in shares of TeraWulf in the first quarter valued at approximately $42,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after purchasing an additional 3,054 shares in the last quarter. 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.

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