TeraWulf (NASDAQ:WULF) Shares Up 7.9% - Time to Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $6.49 and last traded at $6.45. 9,129,301 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 20,721,361 shares. The stock had previously closed at $5.98.

Analyst Ratings Changes

A number of brokerages have issued reports on WULF. Rosenblatt Securities restated a "buy" rating and issued a $5.00 price objective on shares of TeraWulf in a research note on Tuesday, October 8th. Needham & Company LLC began coverage on TeraWulf in a research note on Wednesday, September 4th. They issued a "buy" rating and a $6.00 price objective for the company. B. Riley restated a "buy" rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Roth Mkm restated a "buy" rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Finally, Stifel Canada downgraded TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $6.17.

TeraWulf Trading Up 4.0 %

The company has a 50-day moving average price of $4.86 and a two-hundred day moving average price of $4.08.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analysts' expectations of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. On average, sell-side analysts predict that TeraWulf Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently added to or reduced their stakes in WULF. Aspect Partners LLC bought a new stake in TeraWulf during the third quarter valued at $26,000. Amalgamated Bank increased its holdings in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company's stock worth $35,000 after buying an additional 2,912 shares during the last quarter. ARS Investment Partners LLC bought a new stake in shares of TeraWulf during the 2nd quarter worth $44,000. Pekin Hardy Strauss Inc. purchased a new position in TeraWulf in the second quarter worth $44,000. Finally, Creative Planning bought a new position in TeraWulf in the third quarter valued at $54,000. Institutional investors 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.

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