TeraWulf (NASDAQ:WULF) Trading 7.7% Higher – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) shares were up 7.7% during trading on Friday . The stock traded as high as $13.85 and last traded at $13.8820. Approximately 14,550,439 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 21,513,691 shares. The stock had previously closed at $12.89.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a report on Tuesday, November 11th. Keefe, Bruyette & Woods upgraded shares of TeraWulf from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $9.50 to $24.00 in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Oppenheimer initiated coverage on shares of TeraWulf in a research note on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, JMP Securities set a $22.00 target price on TeraWulf in a research report on Wednesday, October 29th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.15.

TeraWulf Price Performance

The company’s 50 day simple moving average is $13.20 and its 200 day simple moving average is $10.98. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. The stock has a market capitalization of $5.79 billion, a PE ratio of -9.72 and a beta of 3.69.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The business had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business’s revenue for the quarter was up 86.9% compared to the same quarter last year. On average, equities analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Michael C. Bucella purchased 4,178 shares of the stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the acquisition, the director directly owned 266,958 shares of the company’s stock, valued at $3,206,165.58. This represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after purchasing an additional 3,784 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after buying an additional 4,800 shares during the period. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the 3rd quarter worth $29,000. Advisors Asset Management Inc. raised its position in shares of TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after buying an additional 2,748 shares during the period. Finally, Comerica Bank boosted its holdings in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.