TeraWulf (NASDAQ:WULF) Sets New 1-Year High - Here's What Happened

Key Points

• TeraWulf's shares reached a new 52-week high of $11.77, closing at $11.49 on a volume of approximately 45.6 million shares.
• Analyst ratings are largely positive, with two firms rating the stock as Strong Buy and nine as Buy, alongside updated price targets from Cantor Fitzgerald and Northland Securities.
• The company's latest quarterly earnings showed a revenue increase of 33.9% year-over-year, despite a reported EPS of ($0.05), missing analyst expectations.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $11.77 and last traded at $11.49, with a volume of 45588217 shares changing hands. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WULF. Cantor Fitzgerald boosted their price objective 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 began coverage on shares of TeraWulf in a report on Monday, September 15th. They set a "buy" rating on the stock. Wall Street Zen lowered shares of TeraWulf from a "hold" rating to a "sell" rating in a report on Sunday, August 24th. Northland Securities upped their price target on shares of TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Finally, Roth Capital upped their price target on shares of TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $11.22.

TeraWulf Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. The firm's 50-day moving average is $7.73 and its two-hundred day moving average is $4.98. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -32.83 and a beta of 3.36.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The business 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 firm's revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

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

Institutional Trading of TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of TeraWulf in the 1st quarter valued at approximately $29,000. Nisa Investment Advisors LLC boosted its position in shares of TeraWulf by 135.6% during the 2nd 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 period. Steward Partners Investment Advisory LLC boosted its position 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 worth $29,000 after purchasing an additional 4,800 shares during the period. Advisors Asset Management Inc. boosted its position in shares of TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company's stock worth $30,000 after purchasing an additional 2,748 shares during the period. Finally, Calamos Advisors LLC purchased a new position in shares of TeraWulf during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

TeraWulf Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.