TeraWulf (NASDAQ:WULF) Hits New 52-Week High – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $6.72 and last traded at $6.72, with a volume of 942661 shares. The stock had previously closed at $6.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WULF. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Needham & Company LLC began coverage on TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company. Roth Capital raised TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 target price on shares of TeraWulf in a research note on Monday, July 8th. Finally, Stifel Canada raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and a consensus price target of $6.17.

TeraWulf Stock Performance

The company’s 50 day simple moving average is $4.64 and its two-hundred day simple moving average is $3.89.

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

Institutional Trading of TeraWulf

Institutional investors and hedge funds have recently bought and sold shares of the business. Aspect Partners LLC acquired a new stake in shares of TeraWulf in the third quarter valued at $26,000. Miracle Mile Advisors LLC acquired a new stake in TeraWulf in the 1st quarter valued at about $29,000. Amalgamated Bank boosted its stake in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares during the period. ARS Investment Partners LLC acquired a new position in shares of TeraWulf during the second quarter worth about $44,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.