TeraWulf (NASDAQ:WULF) Stock Price Up 16.4% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price was up 16.4% during trading on Thursday . The company traded as high as $17.75 and last traded at $17.5650. Approximately 8,500,434 shares traded hands during trading, a decline of 73% from the average session volume of 31,465,488 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WULF. Northland Securities set a $30.00 target price on shares of TeraWulf in a report on Monday, May 4th. Jefferies Financial Group assumed coverage on shares of TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective for the company. Bank of America began coverage on TeraWulf in a research report on Monday, June 15th. They set a “buy” rating and a $34.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Sanford C. Bernstein started coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

TeraWulf Price Performance

The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $8.99 billion, a PE ratio of -7.33 and a beta of 3.73. The company’s fifty day simple moving average is $23.48 and its two-hundred day simple moving average is $19.28.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that TeraWulf Inc. will post -1.09 EPS for the current year.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its holdings in TeraWulf by 4.5% in the second quarter. Handelsbanken Fonder AB now owns 88,200 shares of the company’s stock valued at $2,179,000 after buying an additional 3,800 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of TeraWulf by 66.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 77,400 shares of the company’s stock valued at $1,912,000 after acquiring an additional 30,831 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of TeraWulf during the 2nd quarter valued at $16,500,000. GAMMA Investing LLC boosted its position in TeraWulf by 25.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after purchasing an additional 681 shares during the period. Finally, CoreCap Advisors LLC increased its holdings in TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.