TeraWulf (NASDAQ:WULF) Sets New 12-Month High on Analyst Upgrade

Key Points

• TeraWulf's stock reached a new 52-week high of $10.40 after receiving an upgrade from Wall Street Zen, changing its rating from strong sell to hold.
• Multiple analysts have given positive ratings to TeraWulf, with target prices ranging from $7.00 to $13.00, leading to a consensus rating of "Buy" and an average target price of $9.94.
• The company's recent earnings report showed a revenue increase of 33.9% year-over-year, though it still posted a loss of ($0.05) EPS, missing the consensus estimate.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) reached a new 52-week high on Monday after Wall Street Zen upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $10.40 and last traded at $9.96, with a volume of 35370088 shares traded. The stock had previously closed at $8.97.

Other equities research analysts have also issued research reports about the company. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a research report on Thursday, May 22nd. Rosenblatt Securities boosted their price objective on TeraWulf from $6.00 to $10.50 and gave the stock a "buy" rating in a research report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of TeraWulf in a report on Thursday. Northland Securities set a $12.00 target price on TeraWulf in a report on Thursday. Finally, JMP Securities lifted their target price on TeraWulf from $7.00 to $13.00 and gave the stock a "market outperform" rating in a report on Friday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, TeraWulf currently has a consensus rating of "Buy" and an average target price of $9.94.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in TeraWulf by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company's stock valued at $65,193,000 after purchasing an additional 534,315 shares in the last quarter. Bank of America Corp DE raised its position in shares of TeraWulf by 22.2% in the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock worth $63,038,000 after buying an additional 2,617,617 shares during the period. Driehaus Capital Management LLC raised its position in shares of TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock worth $72,070,000 after buying an additional 412,877 shares during the period. Dimensional Fund Advisors LP increased its holdings in TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after purchasing an additional 955,795 shares in the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of TeraWulf during the fourth quarter valued at about $24,371,000. Hedge funds and other institutional investors own 62.49% of the company's stock.

TeraWulf Stock Up 16.5%

The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -30.18 and a beta of 3.17. The firm has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $3.99. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. TeraWulf's quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the prior 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.

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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