TeraWulf (NASDAQ:WULF) Sets New 12-Month High – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares reached a new 52-week high on Monday . The company traded as high as $29.73 and last traded at $29.3750, with a volume of 343431 shares traded. The stock had previously closed at $28.98.

Wall Street Analyst Weigh In

WULF has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Friday, March 27th. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of TeraWulf in a research report on Wednesday, May 27th. Needham & Company LLC lifted their price objective on shares of TeraWulf from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. B. Riley Financial boosted their price objective on shares of TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley set a $66.50 target price on shares of TeraWulf in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.86.

TeraWulf Stock Up 1.7%

The firm has a 50 day simple moving average of $23.75 and a two-hundred day simple moving average of $17.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a market capitalization of $14.26 billion, a P/E ratio of -11.60 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business had revenue of $34.01 million during the quarter, compared to analyst estimates of $34.69 million. During the same period in the prior year, the business posted ($0.16) EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current year.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 383,350 shares of company stock valued at $8,564,364 in the last quarter. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of TeraWulf during the third quarter worth $69,006,000. Wellington Management Group LLP increased its holdings in shares of TeraWulf by 36,193.2% during the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of TeraWulf during the first quarter worth $53,418,000. Finally, Marshall Wace LLP lifted its stake in shares of TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after acquiring an additional 2,713,587 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.