TeraWulf (NASDAQ:WULF) Shares Gap Up - Here's What Happened

Key Points

• TeraWulf Inc. shares gapped up from a previous close of $12.88 to an opening price of $13.94, and the stock last traded at $14.12 with a volume of over 7 million shares.
• Analysts have issued updated ratings on the stock, with Cantor Fitzgerald raising their target price from $11.00 to $14.00 while Rosenblatt Securities increased theirs from $14.50 to $20.00, indicating growing confidence in the company's potential.
• In its latest quarterly earnings, TeraWulf reported a loss of ($0.05) per share, slightly missing estimates, but generated revenue of $47.64 million, beating the consensus estimate of $46.30 million.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $12.88, but opened at $13.94. TeraWulf shares last traded at $14.12, with a volume of 7,224,267 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WULF shares. Cantor Fitzgerald upped 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. Rosenblatt Securities upped their price objective on shares of TeraWulf from $14.50 to $20.00 and gave the company a "buy" rating in a research note on Thursday, October 16th. JMP Securities upped their price objective on shares of TeraWulf from $13.00 to $18.00 and gave the company a "market outperform" rating in a research note on Tuesday. B. Riley reaffirmed a "buy" rating on shares of TeraWulf in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of TeraWulf in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.35.

TeraWulf Trading Up 5.6%

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 firm's 50 day moving average is $11.12 and its 200 day moving average is $6.48. The company has a market capitalization of $5.55 billion, a PE ratio of -38.85 and a beta of 3.44.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share 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%. The business's revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. As a group, equities analysts predict that TeraWulf Inc. will post -0.17 EPS for the current year.

Insiders Place Their Bets

In related news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.90% of the stock is currently owned by company insiders.

Institutional Trading of TeraWulf

Several large investors have recently added to or reduced their stakes in the stock. World Equity Group Inc. bought a new stake in TeraWulf in the third quarter valued at $432,000. Nisa Investment Advisors LLC boosted its holdings in TeraWulf by 1,076.8% in the third quarter. Nisa Investment Advisors LLC now owns 77,375 shares of the company's stock valued at $884,000 after acquiring an additional 70,800 shares in the last quarter. SG Americas Securities LLC boosted its holdings in TeraWulf by 278.7% in the third quarter. SG Americas Securities LLC now owns 53,493 shares of the company's stock valued at $611,000 after acquiring an additional 39,367 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of TeraWulf by 11.0% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 64,700 shares of the company's stock valued at $739,000 after buying an additional 6,400 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at $163,000. 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.

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