TeraWulf (NASDAQ:WULF) Trading Up 7.9% – What’s Next?

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

Analyst Ratings Changes

Several research firms have recently commented on WULF. Needham & Company LLC restated a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research note on Monday, January 6th. Northland Securities reaffirmed an “outperform” rating and set a $10.00 target price on shares of TeraWulf in a research report on Tuesday, December 24th. B. Riley boosted their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Up 16.1 %

The business has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.56.

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

Institutional Investors Weigh In On TeraWulf

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton purchased a new position in TeraWulf in the 4th quarter worth $32,000. CoreCap Advisors LLC grew its stake in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after purchasing an additional 3,054 shares during the last quarter. FMR LLC increased its holdings in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares during the period. KBC Group NV purchased a new position in shares of TeraWulf in the third quarter worth about $39,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of TeraWulf during the third quarter worth about $47,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.