TeraWulf (NASDAQ:WULF) Trading 5.3% Higher - Still a Buy?

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price was up 5.3% during trading on Tuesday . The stock traded as high as $2.84 and last traded at $2.88. Approximately 11,288,142 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 26,686,959 shares. The stock had previously closed at $2.73.

Wall Street Analyst Weigh In

WULF has been the subject of a number of recent research reports. Northland Securities reiterated an "outperform" rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, December 24th. Rosenblatt Securities reissued a "buy" rating and set a $10.00 target price on shares of TeraWulf in a research report on Monday, March 3rd. B. Riley raised their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Atb Cap Markets upgraded shares of TeraWulf to a "strong-buy" rating in a report on Sunday, January 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $8.71.

TeraWulf Stock Down 1.9 %

The company has a 50 day simple moving average of $3.88 and a 200-day simple moving average of $5.39. The stock has a market cap of $995.85 million, a price-to-earnings ratio of -13.00 and a beta of 2.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly 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 firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The company's revenue for the quarter was up 50.2% on a year-over-year basis. On average, equities research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Rosenberg Matthew Hamilton acquired a new stake in TeraWulf during the fourth quarter worth about $32,000. FMR LLC lifted its holdings in shares of TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. CoreCap Advisors LLC boosted its position in 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 purchasing an additional 3,054 shares during the period. Stifel Financial Corp bought a new stake in TeraWulf in the third quarter valued at $47,000. Finally, Hodges Capital Management Inc. bought a new position in shares of TeraWulf during the third quarter worth about $47,000. 62.49% of the stock is currently owned by 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.