TeraWulf (NASDAQ:WULF) Shares Gap Up to $4.50

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.50, but opened at $4.72. TeraWulf shares last traded at $4.84, with a volume of 5,981,353 shares traded.

Analyst Ratings Changes

WULF has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, September 3rd. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC assumed coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th. Finally, B. Riley restated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday, August 26th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $5.71.

TeraWulf Price Performance

The business’s 50-day moving average is $4.37 and its 200 day moving average is $3.39.

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

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank raised its holdings in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 6,450 shares during the last quarter. ARS Investment Partners LLC bought a new position in shares of TeraWulf during the second quarter valued at $44,000. Pekin Hardy Strauss Inc. bought a new position in shares of TeraWulf during the second quarter valued at $44,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter valued at $29,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.