TeraWulf (NASDAQ:WULF) Sets New 12-Month High - Here's Why

Key Points

• TeraWulf's share price reached a new 52-week high of $12.54 during trading, closing at $12.29 with a significant trading volume of approximately 2.5 million shares.
• Several analysts have increased their price targets for TeraWulf, with Cantor Fitzgerald setting a new target of $14.00 and Northland Securities raising theirs to $15.00, reflecting strong demand and positive market sentiment.
• Despite growth in revenue, TeraWulf reported a quarterly loss of ($0.05) EPS, missing expectations slightly and indicating ongoing financial challenges despite a 33.9% year-over-year revenue increase.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $12.54 and last traded at $12.29, with a volume of 2497212 shares trading hands. The stock had previously closed at $11.92.

Analysts Set New Price Targets

WULF has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. JMP Securities lifted their price objective on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a research note on Friday, August 15th. Northland Securities increased their target price on TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Weiss Ratings restated a "sell (e+)" rating on shares of TeraWulf in a research report on Saturday, September 27th. Finally, Wall Street Zen cut TeraWulf from a "hold" rating to a "sell" rating in a research note on Sunday, August 24th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.50.

TeraWulf Trading Up 2.9%

The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day simple moving average of $8.85 and a two-hundred day simple moving average of $5.50. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -35.05 and a beta of 3.44.

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). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The company had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. The company's revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. Equities analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.90% of the company's stock.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in TeraWulf by 5.2% during the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company's stock worth $164,000 after purchasing an additional 1,869 shares during the last quarter. Envestnet Asset Management Inc. increased its position in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after buying an additional 2,258 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of TeraWulf by 68.4% during the second 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 in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of TeraWulf by 5.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company's stock valued at $261,000 after acquiring an additional 2,905 shares during the period. Finally, Main Management ETF Advisors LLC grew its stake in shares of TeraWulf by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 201,533 shares of the company's stock valued at $883,000 after acquiring an additional 3,276 shares in the last quarter. 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.

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