TeraWulf (NASDAQ:WULF) Stock Price Up 16.4% - What's Next?

Key Points

• TeraWulf shares surged 16.4% to $17.565 during Thursday’s mid-day trading, although volume was 73% below the stock’s average daily volume.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $34.29; recent targets range from $30 to $72.
• The company’s fundamentals remain challenging: TeraWulf missed quarterly earnings estimates by a wide margin, reported sharply negative margins and return on equity, and analysts expect a full-year loss of $1.09 per share.

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s share price rose 16.4% during mid-day trading on Thursday . The company traded as high as $17.75 and last traded at $17.5650. 8,500,434 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 31,465,488 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

WULF has been the topic of several recent analyst reports. Needham & Company LLC upped their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Morgan Stanley raised their target price on TeraWulf from $66.50 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Compass Point set a $40.00 price objective on shares of TeraWulf in a research report on Monday, July 6th. Bank of America started coverage on TeraWulf in a research report on Monday, June 15th. They set a "buy" rating and a $34.00 target price on the stock. Finally, Northland Securities set a $30.00 price target on shares of TeraWulf in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $34.29.

TeraWulf Price Performance

The company has a fifty day moving average of $23.48 and a 200-day moving average of $19.28. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a market cap of $8.99 billion, a PE ratio of -7.33 and a beta of 3.73.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm had revenue of $34.01 million for the quarter, compared to analysts' expectations of $34.69 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The firm's quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts expect that TeraWulf Inc. will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares in the company, valued at $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in shares of TeraWulf by 106.7% during the second quarter. CoreCap Advisors LLC now owns 1,447 shares of the company's stock worth $36,000 after buying an additional 747 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the third quarter valued at approximately $29,000. First United Bank & Trust acquired a new position in shares of TeraWulf in the first quarter valued at approximately $37,000. Vermillion Wealth Management Inc. raised its stake in shares of TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after purchasing an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in shares of TeraWulf during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 62.49% of the company's stock.

About TeraWulf

TeraWulf, Inc NASDAQ: WULF is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

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