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

Key Points

• TeraWulf shares hit a new 52-week high, reaching as much as $27.73 intraday before closing at $26.89, as trading volume topped 4.2 million shares.
• Analyst sentiment remains broadly positive, with multiple firms reiterating or raising buy ratings and an average price target of $31.72; Morgan Stanley’s target is notably higher at $66.50.
• The company’s latest earnings were weak, with a larger-than-expected loss of $1.01 per share and revenue of $34.01 million, while insiders have recently been mixed with both buying and heavy selling activity.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on WULF shares. Roth Mkm restated a "buy" rating and set a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Morgan Stanley set a $66.50 price target on shares of TeraWulf in a research note on Wednesday, June 3rd. B. Riley Financial upped their price target on shares of TeraWulf from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Northland Securities set a $30.00 price target on shares of TeraWulf in a research note on Monday, May 4th. Finally, Lucid Cap Mkts upgraded shares of TeraWulf to a "strong-buy" rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TeraWulf has an average rating of "Moderate Buy" and an average target price of $31.72.

TeraWulf Stock Performance

The company's 50-day moving average price is $21.28 and its two-hundred day moving average price is $16.77. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $12.22 billion, a PE ratio of -9.89 and a beta of 3.82.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its 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). 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 during the quarter, compared to analysts' expectations of $34.69 million. During the same quarter in the previous year, the business earned ($0.16) EPS. TeraWulf's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that TeraWulf Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella acquired 1,665 shares of the firm's stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares of the company's stock, valued at $4,211,982.08. The trade was a 0.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick Fleury sold 573,586 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the completion of the transaction, the chief financial officer owned 3,205,000 shares in the company, valued at $51,728,700. The trade was a 15.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 7,838 shares of company stock worth $120,282 and have sold 1,120,850 shares worth $20,462,114. Corporate insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Bank of America Corp DE increased its position in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock valued at $63,038,000 after acquiring an additional 2,617,617 shares during the period. Morgan Stanley increased its position in shares of TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company's stock valued at $110,778,000 after acquiring an additional 724,286 shares during the period. Geode Capital Management LLC increased its position in shares of TeraWulf by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company's stock valued at $96,274,000 after acquiring an additional 318,842 shares during the period. Finally, State Street Corp boosted its stake in shares of TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company's stock valued at $84,446,000 after purchasing an additional 298,645 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

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.

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