TeraWulf (NASDAQ:WULF) Shares Up 6.4% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) rose 6.4% during mid-day trading on Friday . The stock traded as high as $3.60 and last traded at $3.57. Approximately 12,928,935 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 45,204,652 shares. The stock had previously closed at $3.36.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WULF. Needham & Company LLC reissued a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. 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. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. Finally, Northland Securities reissued an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Performance

The stock has a market cap of $1.40 billion, a PE ratio of -18.03 and a beta of 2.70. The company’s 50-day moving average price is $5.06 and its 200 day moving average price is $5.56.

TeraWulf (NASDAQ:WULF) last announced 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 analysts’ expectations of $37.43 million. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. On average, sell-side analysts anticipate 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. FMR LLC lifted its holdings in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL raised its position in shares of TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after purchasing an additional 1,700 shares during the period. ARS Investment Partners LLC raised its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock valued at $68,000 after purchasing an additional 2,000 shares during the period. Truist Financial Corp lifted its stake in shares of TeraWulf by 5.0% during the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock valued at $297,000 after buying an additional 2,500 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in TeraWulf by 67.9% in 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 period. 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.