TeraWulf (NASDAQ:WULF) Shares Gap Up to $4.22

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.22, but opened at $4.32. TeraWulf shares last traded at $4.45, with a volume of 1,576,970 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WULF. Cantor Fitzgerald lifted their price target on TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday. Rosenblatt Securities began coverage on TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price target on the stock. B. Riley reduced their price objective on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Compass Point reduced their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $4.49.

TeraWulf Trading Down 4.4 %

The firm has a fifty day moving average of $2.79 and a 200-day moving average of $2.29.

TeraWulf (NASDAQ:WULF) last released 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 return on equity of 30.00% and a negative net margin of 56.70%. The company had revenue of $42.43 million during the quarter, compared to analyst estimates of $41.86 million. Analysts predict that TeraWulf Inc. will post -0.09 EPS for the current year.

Insider Transactions at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s stock in a transaction 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 completion of the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after acquiring an additional 6,450 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in TeraWulf in the first quarter valued at $29,000. Apollon Wealth Management LLC acquired a new position in TeraWulf in the fourth quarter valued at $27,000. Delta Financial Group Inc. increased its stake in TeraWulf by 33.6% in the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock valued at $116,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Partners Capital Investment Group LLP acquired a new position in TeraWulf in the fourth quarter valued at $29,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.