TeraWulf (NASDAQ:WULF) Reaches New 52-Week High – Still a Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) reached a new 52-week high on Tuesday . The company traded as high as $27.73 and last traded at $26.8860, with a volume of 4234520 shares traded. The stock had previously closed at $25.86.

Wall Street Analyst Weigh In

WULF has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $27.00 target price on shares of TeraWulf in a report on Monday, May 11th. Needham & Company LLC upped their target price on TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Sanford C. Bernstein initiated coverage on TeraWulf in a report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 target price on the stock. Lucid Cap Mkts upgraded TeraWulf to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, Northland Securities set a $30.00 target price on TeraWulf in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.72.

TeraWulf Price Performance

The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50 day moving average is $21.28 and its 200 day moving average is $16.77. The firm has a market cap of $12.22 billion, a P/E ratio of -9.89 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same period in the previous year, the firm earned ($0.16) EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella acquired 1,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $15.04 per share, for a total transaction of $25,041.60. Following the purchase, the director directly owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 7,838 shares of company stock valued at $120,282 and have sold 1,120,850 shares valued at $20,462,114. 15.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in TeraWulf during the third quarter valued at approximately $29,000. Vermillion Wealth Management Inc. lifted its position in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC bought a new position in TeraWulf during the fourth quarter valued at approximately $34,000. Comerica Bank raised its position in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares during the period. Finally, First United Bank & Trust purchased a new stake in shares of TeraWulf in the 1st quarter worth $37,000. 62.49% of the stock is owned by institutional investors.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.