TeraWulf (NASDAQ:WULF) Trading Up 7.9% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) traded up 7.9% on Friday . The company traded as high as $3.87 and last traded at $3.89. 6,396,945 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 43,929,961 shares. The stock had previously closed at $3.61.

Analyst Upgrades and Downgrades

WULF has been the topic of several research analyst reports. B. Riley raised their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a report on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Trading Up 16.1 %

The company has a 50-day moving average price of $5.26 and a 200-day moving average price of $5.58.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. Research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of WULF. Driehaus Capital Management LLC raised its position in shares of TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock worth $72,070,000 after buying an additional 412,877 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock valued at $43,232,000 after acquiring an additional 453,429 shares during the period. State Street Corp raised its holdings in TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in TeraWulf by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after purchasing an additional 955,795 shares during the period. Finally, Van ECK Associates Corp lifted its position in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after purchasing an additional 2,028,383 shares during the period. Institutional investors and hedge funds 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.