TeraWulf (NASDAQ:WULF) Trading 14.9% Higher - Time to Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price rose 14.9% during mid-day trading on Tuesday . The company traded as high as $2.60 and last traded at $2.59. Approximately 6,386,840 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 27,739,409 shares. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a "market perform" rating for the company. Jones Trading started coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Atb Cap Markets raised TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Finally, Rosenblatt Securities reduced their price target on TeraWulf from $10.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, TeraWulf currently has an average rating of "Buy" and a consensus target price of $7.86.

TeraWulf Stock Performance

The business has a 50 day simple moving average of $3.07 and a two-hundred day simple moving average of $5.14. The firm has a market capitalization of $1.15 billion, a P/E ratio of -15.00 and a beta of 2.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $35.00 million during the quarter, compared to analysts' expectations of $37.43 million. The firm's quarterly revenue was up 50.2% compared to the same quarter last year. On average, equities analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton bought a new stake in TeraWulf during the fourth quarter worth about $32,000. CoreCap Advisors LLC raised its holdings in shares of TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after buying an additional 3,054 shares in the last quarter. Stifel Financial Corp bought a new stake in TeraWulf in the 3rd quarter worth approximately $47,000. Perigon Wealth Management LLC purchased a new stake in TeraWulf in the fourth quarter worth approximately $59,000. Finally, R Squared Ltd bought a new position in TeraWulf during the fourth quarter valued at approximately $61,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.