TeraWulf (NASDAQ:WULF) Shares Gap Up – What’s Next?

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Thursday . The stock had previously closed at $3.72, but opened at $3.96. TeraWulf shares last traded at $3.73, with a volume of 5,745,430 shares.

Wall Street Analysts Forecast Growth

WULF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a report on Monday, January 13th. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $10.00 target price on shares of TeraWulf in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.64.

TeraWulf Price Performance

The firm’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.56.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. TeraWulf’s quarterly revenue was up 50.2% on a year-over-year basis. Equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of WULF. FMR LLC boosted its position in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL boosted its position in shares of TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock worth $136,000 after purchasing an additional 1,700 shares in the last quarter. ARS Investment Partners LLC boosted its position in shares of TeraWulf by 20.0% during the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock worth $68,000 after purchasing an additional 2,000 shares in the last quarter. Truist Financial Corp boosted its position in shares of TeraWulf by 5.0% during the 4th quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock worth $297,000 after purchasing an additional 2,500 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after purchasing an additional 3,054 shares in the last quarter. 62.49% of the stock is 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.