TeraWulf (NASDAQ:WULF) Shares Gap Up – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) shares gapped up before the market opened on Monday . The stock had previously closed at $4.35, but opened at $4.53. TeraWulf shares last traded at $4.34, with a volume of 6,423,795 shares.

Wall Street Analysts Forecast Growth

WULF has been the topic of several research reports. Citizens Jmp raised TeraWulf to a “strong-buy” rating and set a $7.00 target price on the stock in a research note on Thursday, May 22nd. JMP Securities began coverage on TeraWulf in a research note on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 target price on the stock. Rosenblatt Securities reduced their price target on TeraWulf from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Jones Trading began coverage on TeraWulf in a research report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, TeraWulf currently has an average rating of “Buy” and an average target price of $7.67.

TeraWulf Stock Performance

The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -13.83 and a beta of 3.09. The firm has a 50-day moving average price of $3.16 and a two-hundred day moving average price of $4.52.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf’s revenue was down 18.9% on a year-over-year basis. Research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. CoreCap Advisors LLC grew its stake in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after buying an additional 3,054 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in TeraWulf during the 1st quarter worth approximately $29,000. Calamos Advisors LLC purchased a new position in TeraWulf during the 1st quarter worth approximately $33,000. Forum Financial Management LP purchased a new position in TeraWulf during the 4th quarter worth approximately $68,000. Finally, Arete Wealth Advisors LLC purchased a new position in TeraWulf during the 1st quarter worth approximately $33,000. 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.