TeraWulf (NASDAQ:WULF) Sets New 1-Year High – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.72 and last traded at $6.72, with a volume of 942661 shares. The stock had previously closed at $6.38.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WULF. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Stifel Canada raised TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Needham & Company LLC began coverage on TeraWulf in a report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.17.

TeraWulf Stock Down 2.3 %

The business has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $3.96.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million for 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, equities analysts predict that TeraWulf Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently modified their holdings of the company. Aspect Partners LLC bought a new position in shares of TeraWulf during the 3rd quarter valued at about $26,000. Miracle Mile Advisors LLC bought a new position in shares of TeraWulf during the 1st quarter valued at about $29,000. Amalgamated Bank increased its position in shares of TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the last quarter. ARS Investment Partners LLC bought a new position in shares of TeraWulf during the 2nd quarter valued at about $44,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of TeraWulf during the 2nd quarter valued at about $44,000. 62.49% of the stock is currently owned by institutional investors.

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.