TeraWulf (NASDAQ:WULF) Shares Up 16.4% – Should You Buy?

TeraWulf Inc. (NASDAQ:WULF) was up 16.4% on Thursday . The company traded as high as $17.75 and last traded at $17.5650. Approximately 8,500,434 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 31,465,488 shares. The stock had previously closed at $15.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price target on the stock. Chardan Capital initiated coverage on shares of TeraWulf in a report on Monday, July 27th. They issued a “buy” rating and a $32.00 price objective for the company. Morgan Stanley boosted their target price on shares of TeraWulf from $66.50 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Northland Securities set a $30.00 target price on shares of TeraWulf in a research note on Monday, May 4th. Finally, Citigroup began coverage on shares of TeraWulf in a report on Monday, June 29th. They set a “buy” rating and a $36.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and an average target price of $34.29.

TeraWulf Stock Down 0.9%

The firm has a 50 day simple moving average of $23.27 and a two-hundred day simple moving average of $19.30. The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $8.75 billion, a P/E ratio of -7.12 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same quarter last year, the firm posted ($0.16) EPS. The company’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that TeraWulf Inc. will post -1.06 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Engle Capital Management L.P. lifted its position in TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the period. Oppenheimer & Co. Inc. lifted its position in TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after purchasing an additional 43,574 shares during the period. Pictet Asset Management Holding SA boosted its stake in TeraWulf by 178.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock valued at $1,735,000 after purchasing an additional 96,843 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in TeraWulf during the 1st quarter valued at $53,418,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.