TeraWulf (NASDAQ:WULF) Shares Up 5.5% - Should You Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price shot up 5.5% on Wednesday . The stock traded as high as $3.09 and last traded at $3.12. 1,807,616 shares were traded during mid-day trading, a decline of 93% from the average session volume of 26,309,858 shares. The stock had previously closed at $2.96.

Analyst Ratings Changes

Several research analysts have weighed in on WULF shares. Atb Cap Markets raised TeraWulf to a "strong-buy" rating in a research report on Sunday, January 5th. B. Riley lifted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $10.00 price target on shares of TeraWulf in a research report on Monday, March 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.50.

TeraWulf Trading Down 0.3 %

The company has a fifty day simple moving average of $4.51 and a two-hundred day simple moving average of $5.48. The stock has a market capitalization of $1.23 billion, a P/E ratio of -16.00 and a beta of 2.70.

Remove Ads

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

Institutional Trading of TeraWulf

Hedge funds have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC increased its stake in TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock worth $72,070,000 after purchasing an additional 412,877 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of TeraWulf by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after purchasing an additional 453,429 shares during the period. State Street Corp lifted its stake in TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company's stock valued at $29,405,000 after purchasing an additional 227,186 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp increased its position in TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock worth $26,964,000 after buying an additional 2,028,383 shares during the last quarter. 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.