TeraWulf (NASDAQ:WULF) Shares Gap Up to $3.94

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.94, but opened at $4.05. TeraWulf shares last traded at $4.08, with a volume of 1,242,330 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Rosenblatt Securities increased their target price on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC began coverage on shares of TeraWulf in a report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, September 3rd. Finally, Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Eight equities 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, the stock currently has an average rating of “Buy” and a consensus target price of $5.71.

TeraWulf Stock Down 0.1 %

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

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results 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 analyst estimates 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 expect that TeraWulf Inc. will post -0.11 earnings per share for the current year.

Institutional Trading of TeraWulf

A number of institutional investors and hedge funds have recently bought and sold shares of WULF. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf in the 1st quarter valued at about $29,000. Partners Capital Investment Group LLP acquired a new position in shares of TeraWulf in the fourth quarter worth approximately $29,000. Amalgamated Bank boosted its holdings in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. Financial Advocates Investment Management acquired a new stake in TeraWulf during the 4th quarter valued at approximately $39,000. Finally, ARS Investment Partners LLC bought a new position in TeraWulf during the 2nd quarter worth approximately $44,000. 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.