TeraWulf (NASDAQ:WULF) Sets New 12-Month High - Time to Buy?

Key Points

• TeraWulf Inc. (NASDAQ:WULF) reached a new 52-week high with a stock price of $11.26 during mid-day trading, indicating strong market interest.
• Equities research analysts have actively revised their price targets for TeraWulf, with ratings mostly in the Buy category, reflecting positive sentiment around the company.
• TeraWulf reported quarterly earnings with a negative EPS of ($0.05), slightly missing expectations, but showed a 33.9% increase in revenue year-over-year.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $11.26 and last traded at $11.04, with a volume of 7477042 shares trading hands. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Compass Point started coverage on shares of TeraWulf in a research note on Monday. They set a "buy" rating on the stock. Roth Capital boosted their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a report on Friday, August 15th. JMP Securities upped their price target on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a report on Friday, August 15th. Finally, B. Riley raised their price target on TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.22.

TeraWulf Stock Performance

The firm has a 50 day moving average price of $7.60 and a 200-day moving average price of $4.91. The company has a market cap of $4.48 billion, a P/E ratio of -31.37 and a beta of 3.36. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $47.64 million during the quarter, compared to analyst estimates of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company's revenue was up 33.9% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. On average, research analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Amanda Fabiano sold 4,600 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the sale, the director owned 40,769 shares in the company, valued at $352,244.16. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its stake in shares of TeraWulf by 33.5% during the 4th quarter. Ameriprise Financial Inc. now owns 137,884 shares of the company's stock worth $780,000 after purchasing an additional 34,609 shares during the last quarter. Cetera Investment Advisers grew its holdings in TeraWulf by 421.9% in the fourth quarter. Cetera Investment Advisers now owns 100,366 shares of the company's stock worth $568,000 after purchasing an additional 81,134 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of TeraWulf by 12.7% during the fourth quarter. Nuveen Asset Management LLC now owns 681,240 shares of the company's stock valued at $3,856,000 after buying an additional 76,840 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of TeraWulf by 70.7% during the fourth quarter. ProShare Advisors LLC now owns 75,358 shares of the company's stock valued at $427,000 after buying an additional 31,219 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new position in TeraWulf during the fourth quarter valued at approximately $69,000. Institutional investors own 62.49% of the company's stock.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.