TeraWulf (NASDAQ:WULF) Trading Up 10.3%

TeraWulf Inc. (NASDAQ:WULF) was up 10.3% during trading on Thursday . The company traded as high as $4.53 and last traded at $4.48. Approximately 3,836,780 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 19,772,555 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WULF shares. B. Riley reiterated a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a report on Monday, August 26th. Roth Mkm restated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC assumed coverage on TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Rosenblatt Securities raised their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.71.

TeraWulf Price Performance

The business’s 50-day moving average price is $4.39 and its 200 day moving average price is $3.35.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. On average, sell-side analysts expect that TeraWulf Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 buying an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC raised its position in shares of TeraWulf by 260.8% in the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after buying an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of TeraWulf in the 2nd quarter valued at approximately $1,095,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of TeraWulf by 20.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 457,175 shares of the company’s stock valued at $2,034,000 after buying an additional 76,714 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.