TeraWulf (NASDAQ:WULF) Trading Up 10.5% – Should You Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) shot up 10.5% during mid-day trading on Friday . The company traded as high as $13.12 and last traded at $13.1710. 5,090,947 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 27,290,426 shares. The stock had previously closed at $11.92.

Analyst Ratings Changes

A number of analysts recently weighed in on WULF shares. Compass Point set a $17.00 target price on shares of TeraWulf and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Citigroup reiterated a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. JMP Securities set a $22.00 price objective on shares of TeraWulf in a research report on Wednesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price objective on shares of TeraWulf in a research report on Tuesday, December 23rd. Finally, Wall Street Zen downgraded shares of TeraWulf from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Trading Up 20.0%

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The stock has a market capitalization of $5.99 billion, a PE ratio of -10.06 and a beta of 3.69. The business’s 50-day moving average is $13.50 and its two-hundred day moving average is $11.60.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The firm had revenue of $50.58 million during the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. TeraWulf’s quarterly revenue was up 86.9% on a year-over-year basis. On average, analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael C. Bucella acquired 4,178 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $12.01 per share, with a total value of $50,177.78. Following the completion of the acquisition, the director owned 266,958 shares of the company’s stock, valued at $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of WULF. First Dallas Securities Inc. lifted its position in shares of TeraWulf by 126.5% during the 2nd quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock valued at $580,000 after acquiring an additional 74,000 shares during the period. Thames Capital Management LLC purchased a new position in TeraWulf in the 2nd quarter valued at approximately $4,970,000. Two Seas Capital LP increased its stake in TeraWulf by 966.9% in the 2nd quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock valued at $10,017,000 after purchasing an additional 2,072,729 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in TeraWulf by 27.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after purchasing an additional 325,148 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in TeraWulf by 420.6% during the third quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock worth $4,291,000 after purchasing an additional 303,583 shares in the last quarter. Hedge funds and other institutional investors 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.