TeraWulf (NASDAQ:WULF) Shares Gap Up – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.57, but opened at $12.22. TeraWulf shares last traded at $11.5480, with a volume of 4,443,866 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group set a $18.25 price target on TeraWulf in a report on Friday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a research note on Tuesday, November 11th. JMP Securities set a $22.00 price target on shares of TeraWulf in a research report on Wednesday, October 29th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 price target on shares of TeraWulf in a research note on Tuesday, November 11th. Finally, Oppenheimer assumed coverage on shares of TeraWulf in a research note on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

TeraWulf Price Performance

The company’s 50 day simple moving average is $13.88 and its 200 day simple moving average is $9.47. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $4.95 billion, a P/E ratio of -8.36 and a beta of 3.83.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The firm had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. TeraWulf’s revenue for the quarter was up 86.9% on a year-over-year basis. As a group, equities analysts forecast that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella bought 4,178 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $12.01 per share, with a total value of $50,177.78. Following the completion of the purchase, the director owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. acquired a new position in shares of TeraWulf in the 1st quarter valued at approximately $29,000. Nisa Investment Advisors LLC raised its holdings in TeraWulf by 135.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after buying an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after buying an additional 4,800 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the third quarter valued at approximately $29,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of TeraWulf by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after buying an additional 2,748 shares during the period. Institutional investors and hedge funds 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.