TeraWulf (NASDAQ:WULF) Trading 12.4% Higher - Here's What Happened

Key Points

• TeraWulf Inc. experienced a 12.4% increase in share price, with stocks trading as high as $5.60 before closing at $5.66.
• Analyst ratings for TeraWulf have been generally positive, with target prices raised to as high as $7.00 and a consensus rating of "Buy."
• The company reported a revenue increase of 33.9% year-over-year, despite missing earnings per share estimates for the most recent quarter.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) traded up 12.4% during trading on Monday . The company traded as high as $5.60 and last traded at $5.66. 12,681,679 shares traded hands during trading, a decline of 70% from the average session volume of 42,593,223 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of TeraWulf from $4.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, June 12th. JMP Securities assumed coverage on shares of TeraWulf in a report on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 target price on the stock. Finally, Citizens Jmp upgraded shares of TeraWulf to a "strong-buy" rating and set a $7.00 target price on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $8.06.

TeraWulf Trading Up 8.3%

The company has a market cap of $2.09 billion, a P/E ratio of -15.53 and a beta of 3.17. The stock's 50 day moving average is $4.64 and its 200-day moving average is $3.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The firm had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. TeraWulf had a negative return on equity of 50.19% and a negative net margin of 91.42%. The business's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. Research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. purchased a new position in TeraWulf in the 1st quarter worth about $29,000. Nisa Investment Advisors LLC raised its position in TeraWulf by 135.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company's stock worth $29,000 after buying an additional 3,784 shares during the last quarter. Calamos Advisors LLC purchased a new position in TeraWulf in the 1st quarter worth about $33,000. Arete Wealth Advisors LLC purchased a new position in TeraWulf in the 1st quarter worth about $33,000. Finally, Comerica Bank raised its position in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after buying an additional 12,370 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company's stock.

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.

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