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

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report)’s stock price traded up 7.9% on Tuesday . The company traded as high as $6.49 and last traded at $6.45. 9,129,301 shares were traded during mid-day trading, a decline of 56% from the average session volume of 20,721,361 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WULF shares. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. B. Riley reaffirmed a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price target on shares of TeraWulf in a report on Tuesday, October 8th. Finally, Needham & Company LLC assumed coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TeraWulf presently has an average rating of “Buy” and a consensus price target of $6.17.

Read Our Latest Stock Analysis on WULF

TeraWulf Stock Performance

The company’s fifty day moving average price is $4.96 and its two-hundred day moving average price is $4.13.

TeraWulf (NASDAQ:WULF – Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. Equities research analysts forecast that TeraWulf Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the period. SG Americas Securities LLC raised its holdings in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after purchasing an additional 139,722 shares during the period. Bank of New York Mellon Corp lifted its holdings in TeraWulf by 97.8% during the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after acquiring an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of TeraWulf during the 2nd quarter valued at about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in TeraWulf by 43.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock worth $3,073,000 after purchasing an additional 199,345 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

(Get Free Report)

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.

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