TeraWulf (NASDAQ:WULF) Shares Up 10.3%

TeraWulf Inc. (NASDAQ:WULF) shares were up 10.3% during mid-day trading on Thursday . The company traded as high as $4.53 and last traded at $4.48. Approximately 3,836,780 shares traded hands during trading, a decline of 81% from the average daily volume of 19,772,555 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

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

TeraWulf Price Performance

The company has a 50 day moving average of $4.37 and a 200 day moving average of $3.38.

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

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TeraWulf during the 2nd quarter valued at $353,000. Algert Global LLC acquired a new position in TeraWulf in the second quarter valued at $102,000. Driehaus Capital Management LLC purchased a new stake in TeraWulf during the second quarter valued at about $9,948,000. Scientech Research LLC acquired a new stake in TeraWulf during the second quarter worth about $1,040,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of TeraWulf by 60.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,319 shares of the company’s stock worth $389,000 after purchasing an additional 33,058 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.