TeraWulf (NASDAQ:WULF) Sets New 12-Month High – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.03 and last traded at $17.54, with a volume of 46301667 shares. The stock had previously closed at $15.68.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. B. Riley Financial upped their price objective on shares of TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and set a $24.00 target price on shares of TeraWulf in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.31.

TeraWulf Stock Up 11.9%

The company’s fifty day simple moving average is $13.82 and its 200 day simple moving average is $12.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45. The firm has a market capitalization of $7.34 billion, a P/E ratio of -12.35 and a beta of 3.69.

Institutional Trading of TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hamilton Wealth LLC boosted its position in TeraWulf by 14.1% during the 4th quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock valued at $181,000 after acquiring an additional 1,950 shares in the last quarter. Invesco Ltd. lifted its stake in shares of TeraWulf by 149.8% in the 4th quarter. Invesco Ltd. now owns 3,575,310 shares of the company’s stock valued at $41,080,000 after purchasing an additional 2,144,209 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of TeraWulf during the fourth quarter valued at approximately $117,000. Feynman Point Asset Management LLC purchased a new stake in TeraWulf in the fourth quarter worth $1,930,000. Finally, Galaxy Group Investments LLC purchased a new stake in TeraWulf in the fourth quarter worth $1,337,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.