TeraWulf (NASDAQ:WULF) Shares Gap Up – What’s Next?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Wednesday. The stock had previously closed at $12.01, but opened at $12.70. TeraWulf shares last traded at $12.5080, with a volume of 7,693,530 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Compass Point set a $40.00 price objective on TeraWulf in a research note on Monday, July 6th. William Blair started coverage on TeraWulf in a research report on Friday, August 28th. They set an “outperform” rating on the stock. Needham & Company LLC upped their price target on TeraWulf from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. UBS Group assumed coverage on TeraWulf in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price target for the company. Finally, Rothschild & Co Redburn assumed coverage on TeraWulf in a research note on Monday, September 21st. They set a “neutral” rating and a $15.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.52.

TeraWulf Price Performance

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. The company has a market cap of $6.33 billion, a P/E ratio of -2.92 and a beta of 3.80. The business’s fifty day moving average is $15.37 and its 200 day moving average is $19.58.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The business had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. TeraWulf’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that TeraWulf Inc. will post -1.00 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter Carter sold 130,626 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the sale, the director owned 229,090 shares in the company, valued at approximately $3,468,422.60. This represents a 36.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 11,968 shares of company stock valued at $189,962 in the last 90 days. 15.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC raised its stake in shares of TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the period. Ameritas Advisory Services LLC purchased a new position in TeraWulf during the 2nd quarter valued at about $41,000. First United Bank & Trust bought a new stake in shares of TeraWulf during the first quarter valued at about $37,000. Solstein Capital LLC bought a new stake in shares of TeraWulf during the second quarter valued at about $74,000. Finally, Summit Securities Group LLC purchased a new stake in shares of TeraWulf in the first quarter worth about $48,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.