TeraWulf (NASDAQ:WULF) Shares Gap Up After Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Monday after B. Riley raised their price target on the stock from $5.00 to $6.00. The stock had previously closed at $4.45, but opened at $4.60. B. Riley currently has a buy rating on the stock. TeraWulf shares last traded at $4.54, with a volume of 2,076,101 shares.

A number of other equities research analysts also recently weighed in on the stock. Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price target for the company. Compass Point lowered their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald upped their target price on TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.21.

Insiders Place Their Bets

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 24.88% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of WULF. Vanguard Group Inc. lifted its holdings in TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the last quarter. Van ECK Associates Corp boosted its holdings in TeraWulf by 50.8% in the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after buying an additional 2,268,870 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after buying an additional 1,372,195 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of TeraWulf by 37.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock worth $4,015,000 after acquiring an additional 459,997 shares in the last quarter. Finally, GM Advisory Group LLC boosted its holdings in shares of TeraWulf by 3.3% in the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after acquiring an additional 39,617 shares during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Price Performance

The company has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.39.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The company had revenue of $42.43 million for the quarter, compared to analysts’ expectations of $41.86 million. As a group, analysts anticipate that TeraWulf Inc. will post -0.09 EPS for the current year.

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.