TeraWulf (NASDAQ:WULF) Hits New 1-Year High – Should You Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) reached a new 52-week high on Monday . The company traded as high as $29.73 and last traded at $29.3750, with a volume of 343431 shares trading hands. The stock had previously closed at $28.98.

Analyst Ratings Changes

WULF has been the topic of a number of recent analyst reports. Arete Research started coverage on TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 price objective on the stock. Morgan Stanley set a $66.50 price target on TeraWulf in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods increased their price objective on shares of TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Jefferies Financial Group began coverage on shares of TeraWulf in a research note on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $27.00 target price on shares of TeraWulf in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.86.

TeraWulf Trading Down 0.3%

The business has a 50 day moving average of $23.37 and a 200 day moving average of $17.61. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of -11.68 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.

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

Insider Activity

In related news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the sale, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 520,850 shares of company stock valued at $10,778,114. 15.90% of the stock is owned by insiders.

Institutional Trading of TeraWulf

A number of large investors have recently bought and sold shares of WULF. Vanguard Group Inc. lifted its holdings in TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of TeraWulf in the third quarter valued at about $69,006,000. Wellington Management Group LLP grew its position in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after purchasing an additional 3,891,127 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of TeraWulf during the 1st quarter worth approximately $53,418,000. Finally, Marshall Wace LLP increased its holdings in shares of TeraWulf by 574.2% during the fourth quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock worth $36,609,000 after purchasing an additional 2,713,587 shares during the period. 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.