TeraWulf (NASDAQ:WULF) Shares Gap Up After Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Monday after B. Riley raised their price target on the stock from $5.00 to $6.00. The stock had previously closed at $4.45, but opened at $4.60. B. Riley currently has a buy rating on the stock. TeraWulf shares last traded at $4.54, with a volume of 2,076,101 shares changing hands.

A number of other research firms have also issued reports on WULF. Rosenblatt Securities initiated coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price target on the stock. Compass Point reduced their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald boosted their price objective on shares of TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $4.99.

Insider Activity

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new stake in shares of TeraWulf in the 4th quarter valued at $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf during the 4th quarter worth about $29,000. Miracle Mile Advisors LLC acquired a new position in TeraWulf during the 1st quarter valued at about $29,000. Global Retirement Partners LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth approximately $30,000. Finally, Regatta Capital Group LLC bought a new stake in shares of TeraWulf during the fourth quarter worth approximately $31,000. Institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Up 4.5 %

The company’s fifty day moving average is $2.87 and its two-hundred day moving average is $2.34.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. The company had revenue of $42.43 million during the quarter, compared to analyst estimates of $41.86 million. Equities analysts predict that TeraWulf Inc. will post -0.09 EPS for the current fiscal year.

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.