TeraWulf (NASDAQ:WULF) Shares Climb 6.9% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s stock price was up 6.9% during trading on Monday. The company traded as high as $11.94 and last traded at $12.1010. Approximately 15,183,237 shares were traded during trading, a decline of 53% from the average session volume of 31,968,662 shares. The stock had previously closed at $11.32.

Analyst Ratings Changes

WULF has been the topic of a number of recent research reports. Freedom Capital upgraded TeraWulf to a “strong-buy” rating in a research note on Tuesday, September 8th. Zacks Research lowered TeraWulf from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. HC Wainwright restated a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. B. Riley Financial boosted their price target on TeraWulf from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of TeraWulf from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Moderate Buy” and an average target price of $32.52.

TeraWulf Stock Performance

The stock’s 50-day moving average price is $15.06 and its 200 day moving average price is $19.51. The firm has a market cap of $6.15 billion, a P/E ratio of -2.80 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. As a group, equities analysts predict that TeraWulf Inc. will post -1.01 EPS for the current year.

Insider Transactions at TeraWulf

In other TeraWulf news, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the completion of the transaction, the director owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael C. Bucella acquired 6,085 shares of the stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $14.79 per share, with a total value of $89,997.15. Following the transaction, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. This trade represents a 1.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 11,968 shares of company stock worth $189,962 in the last ninety days. Company insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Capelight Capital Asset Management LP bought a new position in shares of TeraWulf during the third quarter valued at approximately $2,590,000. Vima LLC grew its holdings in TeraWulf by 0.7% during the 3rd quarter. Vima LLC now owns 145,545 shares of the company’s stock worth $2,154,000 after acquiring an additional 1,034 shares in the last quarter. Inspire Investing LLC purchased a new position in TeraWulf during the 3rd quarter valued at about $450,000. SBI Securities Co. Ltd. lifted its position in shares of TeraWulf by 15.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 18,964 shares of the company’s stock worth $281,000 after purchasing an additional 2,473 shares during the period. Finally, Kings Path Partners LLC bought a new stake in TeraWulf during the 3rd quarter valued at $363,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.