TeraWulf (NASDAQ:WULF) Shares Gap Up to $3.94

TeraWulf Inc. (NASDAQ:WULF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $3.94, but opened at $4.05. TeraWulf shares last traded at $4.08, with a volume of 1,242,330 shares changing hands.

Analyst Ratings Changes

WULF has been the topic of several analyst reports. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Roth Mkm reissued a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Rosenblatt Securities raised their target price on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.71.

TeraWulf Trading Down 0.1 %

The stock’s 50-day simple moving average is $4.39 and its 200 day simple moving average is $3.35.

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

Institutional Trading of TeraWulf

Several large investors have recently modified their holdings of WULF. Algert Global LLC bought a new stake in TeraWulf during the second quarter worth about $102,000. Driehaus Capital Management LLC acquired a new position in shares of TeraWulf in the 2nd quarter valued at approximately $9,948,000. Scientech Research LLC bought a new stake in shares of TeraWulf during the 2nd quarter worth approximately $1,040,000. The Manufacturers Life Insurance Company lifted its holdings in shares of TeraWulf by 60.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,319 shares of the company’s stock worth $389,000 after acquiring an additional 33,058 shares during the period. Finally, Duquesne Family Office LLC acquired a new stake in shares of TeraWulf during the 2nd quarter worth approximately $9,301,000. 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.