TeraWulf (NASDAQ:WULF) Shares Up 3%

Shares of TeraWulf Inc. (NASDAQ:WULF) shot up 3% during trading on Thursday . The company traded as high as $4.51 and last traded at $4.49. 1,390,980 shares were traded during trading, a decline of 93% from the average session volume of 19,876,736 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

A number of research firms recently commented on WULF. Roth Mkm reaffirmed a “buy” rating and set a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday. Needham & Company LLC assumed coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, August 26th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.71.

TeraWulf Stock Up 1.4 %

The business has a 50 day moving average price of $4.23 and a 200 day moving average price of $3.56.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The firm had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. As a group, research analysts expect that TeraWulf Inc. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of WULF. Amalgamated Bank increased its position in shares of 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 buying an additional 2,912 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 valued at $119,000 after acquiring an additional 6,450 shares during the period. ARS Investment Partners LLC acquired a new stake in TeraWulf in the 2nd quarter valued at $44,000. Pekin Hardy Strauss Inc. purchased a new stake in TeraWulf in the 2nd quarter worth $44,000. Finally, Miracle Mile Advisors LLC acquired a new position in TeraWulf during the first quarter worth $29,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.