TeraWulf (NASDAQ:WULF) Shares Up 7.6% - What's Next?

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) were up 7.6% during mid-day trading on Wednesday . The stock traded as high as $5.27 and last traded at $5.24. Approximately 9,360,055 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 33,717,429 shares. The stock had previously closed at $4.87.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WULF shares. Citizens Jmp upgraded TeraWulf to a "strong-buy" rating and set a $7.00 price target for the company in a research note on Thursday, May 22nd. Rosenblatt Securities boosted their price target on TeraWulf from $4.50 to $6.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. JMP Securities started coverage on TeraWulf in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price target for the company. Finally, Jones Trading started coverage on TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, TeraWulf presently has a consensus rating of "Buy" and a consensus target price of $8.06.

TeraWulf Stock Down 4.3%

The company has a market capitalization of $1.97 billion, a P/E ratio of -15.55 and a beta of 3.11. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.03. The stock has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.04.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced 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 firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The company's revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Large investors have recently bought and sold shares of the business. CoreCap Advisors LLC boosted its position in shares of TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after purchasing an additional 3,054 shares in the last quarter. Xponance Inc. lifted its position in TeraWulf by 22.7% in the 4th quarter. Xponance Inc. now owns 19,156 shares of the company's stock valued at $108,000 after acquiring an additional 3,545 shares in the last quarter. Voya Investment Management LLC lifted its position in TeraWulf by 4.8% in the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company's stock valued at $446,000 after acquiring an additional 3,628 shares in the last quarter. Apollon Wealth Management LLC lifted its position in TeraWulf by 18.5% in the 1st quarter. Apollon Wealth Management LLC now owns 31,532 shares of the company's stock valued at $86,000 after acquiring an additional 4,920 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in TeraWulf by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 27,993 shares of the company's stock valued at $158,000 after acquiring an additional 5,445 shares in the last quarter. 62.49% of the stock is currently 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.