TeraWulf (NASDAQ:WULF) Stock Price Up 5.3% – Time to Buy?

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research note on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Monday, March 3rd. Northland Securities reissued an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Finally, B. Riley lifted their target price on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.71.

TeraWulf Price Performance

The business’s 50-day simple moving average is $4.03 and its two-hundred day simple moving average is $5.40. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -13.25 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $35.00 million for 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 was up 50.2% on a year-over-year basis. Equities research analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WULF. Rosenberg Matthew Hamilton bought a new position in shares of TeraWulf in the 4th quarter worth $32,000. FMR LLC lifted its stake in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after buying an additional 3,054 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of TeraWulf during the third quarter worth about $47,000. Finally, Hodges Capital Management Inc. bought a new stake in shares of TeraWulf during the third quarter worth about $47,000. Institutional investors and hedge funds 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.