TeraWulf (NASDAQ:WULF) Shares Gap Up – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.57, but opened at $12.22. TeraWulf shares last traded at $11.5480, with a volume of 4,443,866 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Compass Point set a $17.00 target price on shares of TeraWulf and gave the company a “neutral” rating in a research report on Tuesday, October 28th. JMP Securities set a $22.00 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, November 11th. B. Riley increased their target price on TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Citizens Jmp raised their target price on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

TeraWulf Trading Up 2.2%

The company’s fifty day moving average price is $13.88 and its two-hundred day moving average price is $9.47. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -8.36 and a beta of 3.83.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. TeraWulf’s quarterly revenue was up 86.9% on a year-over-year basis. Research analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insider Activity at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 4,178 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $12.01 per share, for a total transaction of $50,177.78. Following the completion of the purchase, the director owned 266,958 shares in the company, valued at $3,206,165.58. This represents a 1.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WULF. Vanguard Group Inc. increased its position in TeraWulf by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 24,480,051 shares of the company’s stock valued at $279,562,000 after acquiring an additional 674,474 shares in the last quarter. Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of TeraWulf in the third quarter valued at approximately $69,006,000. Hodges Capital Management Inc. increased its holdings in shares of TeraWulf by 13.8% in the second quarter. Hodges Capital Management Inc. now owns 4,062,480 shares of the company’s stock valued at $17,794,000 after purchasing an additional 493,001 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in TeraWulf by 36,193.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares during the last quarter. 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.