TeraWulf (NASDAQ:WULF) Sets New 1-Year High at $5.34

TeraWulf Inc. (NASDAQ:WULF) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.34 and last traded at $5.23, with a volume of 4395831 shares traded. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WULF shares. Rosenblatt Securities started coverage on TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price for the company. Compass Point dropped their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Roth Mkm started coverage on TeraWulf in a research note on Tuesday. They set a “buy” rating and a $6.50 price objective for the company. B. Riley increased their price objective on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald increased their price objective on TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TeraWulf has a consensus rating of “Buy” and an average target price of $5.21.

TeraWulf Trading Down 1.3 %

The stock’s 50-day simple moving average is $2.93 and its 200-day simple moving average is $2.36.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $42.43 million for the quarter, compared to analysts’ expectations of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. As a group, equities research analysts predict that TeraWulf Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the sale, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

A number of hedge funds have recently modified their holdings of WULF. Price T Rowe Associates Inc. MD boosted its stake in TeraWulf by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after purchasing an additional 6,450 shares in the last quarter. PEAK6 Investments LLC bought a new position in TeraWulf in the 1st quarter worth about $64,000. Vanguard Group Inc. lifted its stake in TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares during the period. SG Americas Securities LLC bought a new position in TeraWulf during the 1st quarter valued at about $141,000. Finally, Quantbot Technologies LP bought a new position in TeraWulf during the 1st quarter valued at about $204,000. 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.