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

Key Points

• TeraWulf's stock price opened at $12.92 after closing at $12.30, indicating a positive market reaction.
• Multiple analysts have adjusted TeraWulf's price targets, with Cantor Fitzgerald setting a new target of $14.00 and Northland Securities at $15.00, while maintaining an overall rating of "Moderate Buy."
• The company reported revenues of $47.64 million for the quarter but posted a loss of ($0.05) earnings per share, missing analysts' expectations.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $12.30, but opened at $12.92. TeraWulf shares last traded at $13.15, with a volume of 7,389,957 shares.

Analysts Set New Price Targets

Several research firms recently commented on WULF. Cantor Fitzgerald raised their target price on TeraWulf from $11.00 to $14.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. JMP Securities raised their price objective on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a research note on Friday, August 15th. Wall Street Zen cut TeraWulf from a "hold" rating to a "sell" rating in a research note on Sunday, August 24th. Northland Securities raised their price objective on TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Finally, Rosenblatt Securities raised their price objective on TeraWulf from $12.00 to $14.50 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $11.50.

TeraWulf Stock Up 10.5%

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 stock has a fifty day moving average price of $9.27 and a two-hundred day moving average price of $5.65. The company has a market cap of $5.54 billion, a P/E ratio of -38.83 and a beta of 3.44.

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

Insider Buying and Selling

In related news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction 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 sale, the director directly owned 40,769 shares in the company, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.90% of the company's stock.

Institutional Trading of TeraWulf

A number of hedge funds have recently bought and sold shares of WULF. Edmond DE Rothschild Holding S.A. bought a new stake in TeraWulf during the first quarter worth $29,000. Nisa Investment Advisors LLC lifted its holdings in TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company's stock worth $29,000 after acquiring an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC increased its position in TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company's stock worth $29,000 after buying an additional 4,800 shares during the last quarter. Advisors Asset Management Inc. increased its position in TeraWulf by 68.4% in 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 during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in TeraWulf in the first quarter worth $33,000. 62.49% of the stock is currently owned by institutional investors.

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.

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.