TeraWulf (NASDAQ:WULF) Hits New 12-Month High – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.70 and last traded at $23.49, with a volume of 32136418 shares changing hands. The stock had previously closed at $22.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WULF shares. Northland Securities set a $30.00 price objective on TeraWulf in a research note on Monday. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price on shares of TeraWulf in a research note on Friday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a research report on Wednesday, April 15th. Oppenheimer upped their price target on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $41.50 price objective on shares of TeraWulf in a research report on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.83.

TeraWulf Stock Up 0.6%

The stock has a fifty day moving average of $17.54 and a 200-day moving average of $15.15. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of -15.23 and a beta of 3.84. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.84). TeraWulf had a negative return on equity of 131.48% and a negative net margin of 392.64%.The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.49 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. TeraWulf’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.51 EPS for the current year.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $20.80, for a total value of $2,860,000.00. Following the completion of the transaction, the chief executive officer owned 963,520 shares of the company’s stock, valued at approximately $20,041,216. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Bucella acquired 3,171 shares of the stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the completion of the transaction, the director owned 270,129 shares in the company, valued at approximately $4,262,635.62. This represents a 1.19% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 13,094 shares of company stock valued at $200,392 and have sold 954,200 shares valued at $16,390,854. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the third quarter worth about $29,000. First United Bank & Trust bought a new stake in TeraWulf during the first quarter worth approximately $37,000. Vermillion Wealth Management Inc. grew its holdings in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new stake in shares of TeraWulf in the fourth quarter worth $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of TeraWulf during the 1st quarter worth $48,000. 62.49% of the stock is owned by institutional investors and hedge funds.

About TeraWulf

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.