TeraWulf (NASDAQ:WULF) Shares Up 15%

TeraWulf Inc. (NASDAQ:WULF)’s share price traded up 15% on Thursday . The stock traded as high as $3.88 and last traded at $3.84. 7,604,866 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 19,963,465 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

WULF has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price target on shares of TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Roth Mkm reissued a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. B. Riley upped their target price on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.53.

TeraWulf Stock Down 2.3 %

The business has a fifty day moving average of $4.42 and a 200 day moving average of $2.92.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. Analysts expect that TeraWulf Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in TeraWulf by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after acquiring an additional 6,450 shares during the period. ARS Investment Partners LLC acquired a new position in shares of TeraWulf during the 2nd quarter worth about $44,000. Pekin Hardy Strauss Inc. bought a new stake in TeraWulf during the 2nd quarter valued at approximately $44,000. Miracle Mile Advisors LLC bought a new stake in TeraWulf during the 1st quarter valued at approximately $29,000. Finally, Apollon Wealth Management LLC acquired a new stake in TeraWulf in the 4th quarter valued at approximately $27,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

About TeraWulf

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.