TeraWulf Inc. (NASDAQ:WULF) Short Interest Update

TeraWulf Inc. (NASDAQ:WULF) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 88,590,000 shares, agrowthof146.6% from the June 30th total of 35,920,000 shares. Approximately30.8% of the shares of the company are sold short. Based on an average daily volume of 47,170,000 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily volume of 47,170,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately30.8% of the shares of the company are sold short.

TeraWulf Stock Down 7.8%

NASDAQ WULF opened at $4.76 on Monday. The firm has a market cap of $1.83 billion, a PE ratio of -14.42 and a beta of 3.17. TeraWulf has a 52 week low of $2.06 and a 52 week high of $9.30. The business’s fifty day simple moving average is $4.51 and its 200-day simple moving average is $3.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 3.03.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $45.72 million. TeraWulf had a negative net margin of 94.09% and a negative return on equity of 42.09%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, equities analysts anticipate that TeraWulf will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in TeraWulf by 135.6% during the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after purchasing an additional 3,784 shares during the period. CoreCap Advisors LLC increased its stake in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after purchasing an additional 3,054 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in TeraWulf during the first quarter worth about $29,000. Caitlin John LLC purchased a new stake in TeraWulf during the second quarter worth about $46,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in TeraWulf during the second quarter worth about $48,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WULF. Rosenblatt Securities raised their price objective on shares of TeraWulf from $4.50 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. JMP Securities began coverage on shares of TeraWulf in a research note on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 price objective on the stock. Finally, Citizens Jmp raised shares of TeraWulf to a “strong-buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.06.

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.