TeraWulf (NASDAQ:WULF) Trading Up 14.3% - Still a Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares were up 14.3% during mid-day trading on Wednesday . The stock traded as high as $4.32 and last traded at $4.32. Approximately 44,500,713 shares were traded during trading, an increase of 43% from the average daily volume of 31,055,409 shares. The stock had previously closed at $3.78.

Analyst Ratings Changes

Several equities analysts recently issued reports on WULF shares. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a research note on Thursday, May 22nd. Jones Trading assumed coverage on TeraWulf in a research note on Monday, March 31st. They set a "buy" rating and a $4.00 price objective for the company. JMP Securities assumed coverage on TeraWulf in a research note on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 price objective for the company. Finally, Rosenblatt Securities lowered their price objective on TeraWulf from $4.50 to $4.00 and set a "buy" rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, TeraWulf currently has an average rating of "Buy" and an average target price of $7.67.

TeraWulf Price Performance

The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.92 and a beta of 3.09. The business has a fifty day moving average price of $3.13 and a 200 day moving average price of $4.57.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). The business had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. TeraWulf's revenue for the quarter was down 18.9% compared to the same quarter last year. Research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of TeraWulf by 2.3% during the first 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 during the period. Driehaus Capital Management LLC increased its holdings in shares of TeraWulf by 3.4% during the fourth quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock valued at $72,070,000 after purchasing an additional 412,877 shares during the period. Geode Capital Management LLC increased its holdings in shares of TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after purchasing an additional 453,429 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of TeraWulf by 21.7% during the fourth 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 during the period. Finally, Van ECK Associates Corp boosted its stake in TeraWulf by 74.2% during the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after buying an additional 2,028,383 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.