TeraWulf (NASDAQ:WULF) Sets New 52-Week High – Here’s What Happened

Shares of TeraWulf Inc. (NASDAQ:WULF) hit a new 52-week high on Tuesday . The company traded as high as $6.55 and last traded at $6.43, with a volume of 20537336 shares trading hands. The stock had previously closed at $6.21.

Analysts Set New Price Targets

WULF has been the subject of a number of research reports. Needham & Company LLC initiated coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Roth Mkm restated a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Finally, B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of TeraWulf in a report on Monday, October 7th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.17.

TeraWulf Trading Down 7.3 %

The firm’s fifty day simple moving average is $4.54 and its 200 day simple moving average is $3.82.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The company had revenue of $35.57 million during the quarter, compared to analysts’ expectations of $35.73 million. Equities analysts forecast that TeraWulf Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the last quarter. Aspect Partners LLC purchased a new position in TeraWulf during the 3rd quarter worth approximately $26,000. Price T Rowe Associates Inc. MD grew its stake in TeraWulf by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after buying an additional 6,450 shares during the last quarter. ARS Investment Partners LLC purchased a new position in TeraWulf during the 2nd quarter worth approximately $44,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in TeraWulf during the 2nd quarter worth approximately $44,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.