TeraWulf (NASDAQ:WULF) Stock Price Up 7% - Time to Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shot up 7% during trading on Monday . The company traded as high as $4.51 and last traded at $4.51. 20,442,368 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 32,138,053 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

WULF has been the topic of several recent research reports. Jones Trading began coverage on TeraWulf in a report on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a research report on Thursday, May 22nd. JMP Securities assumed coverage on TeraWulf in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 target price for the company. Finally, Rosenblatt Securities raised their target price on TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, TeraWulf presently has an average rating of "Buy" and an average target price of $7.89.

TeraWulf Price Performance

The company has a 50 day moving average of $3.82 and a 200 day moving average of $4.14. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -15.89 and a beta of 3.11.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The firm had revenue of $34.41 million during the quarter, compared to analyst estimates of $45.72 million. The firm's revenue for the quarter was down 18.9% compared to the same quarter last year. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently added to or reduced their stakes in the business. Senator Investment Group LP acquired a new stake in TeraWulf during the fourth quarter worth approximately $24,371,000. Hodges Capital Management Inc. grew its position in shares of TeraWulf by 17,747.4% in the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock valued at $9,745,000 after buying an additional 3,549,479 shares during the last quarter. Science & Technology Partners L.P. purchased a new position in shares of TeraWulf in the 4th quarter valued at $18,606,000. BIT Capital GmbH raised its stake in TeraWulf by 169.4% during the 4th quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock worth $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in TeraWulf in the fourth quarter valued at $10,970,000. 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.