TeraWulf (NASDAQ:WULF) Trading Up 7.9% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 7.9% on Friday . The company traded as high as $3.87 and last traded at $3.89. 6,396,945 shares traded hands during trading, a decline of 85% from the average session volume of 43,929,961 shares. The stock had previously closed at $3.61.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WULF shares. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. B. Riley boosted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Trading Up 16.1 %

The firm’s fifty day moving average is $5.31 and its 200 day moving average is $5.56.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Rosenberg Matthew Hamilton bought a new position in shares of TeraWulf in the fourth quarter worth about $32,000. FMR LLC boosted its position in TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. KBC Group NV bought a new position in TeraWulf in the 3rd quarter worth about $39,000. CoreCap Advisors LLC increased its position in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after acquiring an additional 3,054 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in shares of TeraWulf during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.