TeraWulf (NASDAQ:WULF) Trading 10.3% Higher

TeraWulf Inc. (NASDAQ:WULF) shares rose 10.3% during mid-day trading on Thursday . The stock traded as high as $4.53 and last traded at $4.48. Approximately 3,836,780 shares changed hands during trading, a decline of 81% from the average daily volume of 19,772,555 shares. The stock had previously closed at $4.06.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WULF. Roth Mkm reissued a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Rosenblatt Securities increased their price target on TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC began coverage on TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Tuesday, September 3rd. Finally, B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and an average target price of $5.71.

TeraWulf Stock Performance

The firm has a 50 day moving average price of $4.37 and a two-hundred day moving average price of $3.38.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. Sell-side analysts predict that TeraWulf Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of TeraWulf

Several institutional investors have recently added to or reduced their stakes in the stock. Chesapeake Capital Corp IL acquired a new position in TeraWulf during the 4th quarter worth $85,000. GM Advisory Group LLC increased its holdings in TeraWulf by 3.3% in the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock valued at $2,971,000 after buying an additional 39,617 shares during the last quarter. Partners Capital Investment Group LLP bought a new stake in TeraWulf in the fourth quarter valued at about $29,000. Intrinsic Edge Capital Management LLC acquired a new stake in TeraWulf during the fourth quarter valued at approximately $1,200,000. Finally, Vima LLC bought a new position in TeraWulf during the 4th quarter worth approximately $346,000. 62.49% of the stock is owned by institutional investors and hedge funds.

About TeraWulf

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.