TeraWulf (NASDAQ:WULF) Trading Up 5.9% – Should You Buy?

Shares of TeraWulf Inc. (NASDAQ:WULFGet Free Report) shot up 5.9% during mid-day trading on Friday . The stock traded as high as $4.20 and last traded at $4.16. 2,546,122 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 19,891,713 shares. The stock had previously closed at $3.93.

Analysts Set New Price Targets

A number of brokerages have weighed in on WULF. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. Roth Mkm reiterated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Stifel Canada raised TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, TeraWulf currently has an average rating of “Buy” and an average target price of $5.71.

Get Our Latest Analysis on WULF

TeraWulf Stock Performance

The business’s 50 day moving average is $4.22 and its two-hundred day moving average is $3.63.

TeraWulf (NASDAQ:WULFGet Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The business had revenue of $35.57 million during the quarter, compared to analysts’ expectations of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. As a group, research analysts expect that TeraWulf Inc. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after buying an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC lifted its stake in TeraWulf by 260.8% in the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after purchasing an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after purchasing an additional 417,369 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of TeraWulf during the second quarter valued at about $1,095,000. Finally, Scientech Research LLC bought a new stake in shares of TeraWulf in the second quarter worth about $1,040,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

(Get Free Report)

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.

Further Reading

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