TeraWulf (NASDAQ:WULF) Sets New 12-Month High on Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF)’s stock price reached a new 52-week high during trading on Monday after Wall Street Zen upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $10.40 and last traded at $9.96, with a volume of 35370088 shares trading hands. The stock had previously closed at $8.97.

Other analysts have also recently issued reports about the stock. Roth Capital lifted their target price on shares of TeraWulf from $7.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of TeraWulf in a report on Thursday. Citizens Jmp upgraded shares of TeraWulf to a “strong-buy” rating and set a $7.00 price target on the stock in a report on Thursday, May 22nd. JMP Securities lifted their target price on shares of TeraWulf from $7.00 to $13.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Rosenblatt Securities lifted their target price on shares of TeraWulf from $6.00 to $10.50 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and a consensus price target of $10.39.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently bought and sold shares of WULF. Edmond DE Rothschild Holding S.A. bought a new position in shares of TeraWulf during the 1st quarter valued at $29,000. Nisa Investment Advisors LLC boosted its position in shares of TeraWulf by 135.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock valued at $29,000 after acquiring an additional 3,784 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisors Asset Management Inc. increased its position in TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after acquiring an additional 2,748 shares in the last quarter. Finally, Calamos Advisors LLC bought a new position in shares of TeraWulf in the first quarter worth about $33,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Performance

The firm has a market capitalization of $3.68 billion, a P/E ratio of -26.80 and a beta of 3.17. The stock’s 50 day moving average is $5.02 and its two-hundred day moving average is $4.03. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The company’s revenue was up 33.9% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

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.