TeraWulf (NASDAQ:WULF) Shares Up 5.3% - Should You Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares were up 5.3% on Tuesday . The company traded as high as $2.84 and last traded at $2.88. Approximately 11,288,142 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 26,686,959 shares. The stock had previously closed at $2.73.

Wall Street Analyst Weigh In

A number of analysts have commented on WULF shares. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price objective on shares of TeraWulf in a research note on Monday, January 13th. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They issued a "market perform" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. Jones Trading began coverage on TeraWulf in a report on Monday. They issued a "buy" rating and a $4.00 target price for the company. Finally, Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of "Buy" and a consensus target price of $8.71.

TeraWulf Price Performance

The firm has a market capitalization of $951.81 million, a PE ratio of -12.33 and a beta of 2.70. The company has a fifty day moving average of $3.96 and a 200-day moving average of $5.39.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WULF. Charles Schwab Investment Management Inc. boosted its holdings in TeraWulf by 258.2% in the third 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TeraWulf by 66.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company's stock worth $681,000 after acquiring an additional 58,235 shares in the last quarter. FMR LLC increased its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company's stock valued at $37,000 after acquiring an additional 1,408 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of TeraWulf during the 3rd quarter valued at about $117,000. Finally, Stifel Financial Corp bought a new position in shares of TeraWulf in the 3rd quarter valued at approximately $47,000. 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.