TeraWulf (NASDAQ:WULF) Shares Up 6.9% - Time to Buy?

Key Points

• TeraWulf shares rose 6.9% to about $12.10, though trading volume was 53% below its average session volume.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $32.52; recent targets range from $21 to $65.
• The company’s fundamentals remain challenging: TeraWulf reported a $1.94 quarterly loss per share versus the $0.24 consensus estimate, while revenue fell 6% year over year to $44.77 million.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price rose 6.9% on Monday. The stock traded as high as $11.94 and last traded at $12.1010. Approximately 15,183,237 shares were traded during trading, a decline of 53% from the average session volume of 31,968,662 shares. The stock had previously closed at $11.32.

Analysts Set New Price Targets

A number of analysts recently weighed in on WULF shares. UBS Group started coverage on shares of TeraWulf in a report on Wednesday, September 23rd. They issued a "buy" rating and a $24.00 price target for the company. Cantor Fitzgerald reduced their price target on TeraWulf from $37.00 to $30.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. TD Cowen initiated coverage on TeraWulf in a research report on Monday, October 12th. They set a "buy" rating and a $21.00 target price on the stock. Weiss Ratings cut TeraWulf from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Finally, Morgan Stanley boosted their target price on TeraWulf from $62.50 to $65.00 and gave the company an "overweight" rating in a research note on Friday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.52.

TeraWulf Price Performance

The stock has a 50-day simple moving average of $15.06 and a 200 day simple moving average of $19.51. The company has a market cap of $6.15 billion, a P/E ratio of -2.80 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. The business had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same period in the previous year, the business posted ($0.05) EPS. The business's quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts expect that TeraWulf Inc. will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other TeraWulf news, Director Michael Bucella acquired 6,085 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares of the company's stock, valued at $5,188,169.31. This trade represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Walter Carter sold 130,626 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $15.14, for a total value of $1,977,677.64. Following the sale, the director owned 229,090 shares of the company's stock, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought 11,968 shares of company stock worth $189,962 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in TeraWulf during the second quarter worth $577,805,000. Bank of America Corp DE acquired a new stake in shares of TeraWulf during the second quarter worth about $140,057,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TeraWulf in the second quarter valued at $61,962,000. Jennison Associates LLC purchased a new stake in TeraWulf in the 1st quarter valued at approximately $53,418,000. Finally, Engle Capital Management L.P. increased its stake in TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.

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