TeraWulf (NASDAQ:WULF) Shares Up 7.7% – Still a Buy?

TeraWulf Inc. (NASDAQ:WULF) shot up 7.7% during mid-day trading on Friday . The company traded as high as $13.85 and last traded at $13.8820. 14,550,439 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 21,513,691 shares. The stock had previously closed at $12.89.

Analyst Ratings Changes

WULF has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. UBS Group set a $18.25 target price on TeraWulf in a research report on Friday, October 24th. Citizens Jmp boosted their price target on shares of TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. B. Riley raised their price objective on shares of TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Northland Securities set a $23.25 price objective on shares of TeraWulf in a report on Wednesday, October 29th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Stock Up 7.2%

The firm’s 50-day moving average price is $13.20 and its two-hundred day moving average price is $10.98. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $5.79 billion, a PE ratio of -9.72 and a beta of 3.69.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The company had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The company’s quarterly revenue was up 86.9% on a year-over-year basis. As a group, equities research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael C. Bucella acquired 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $12.01 per share, with a total value of $50,177.78. Following the purchase, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. The trade was a 1.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently modified their holdings of the stock. Sippican Capital Advisors grew its position in TeraWulf by 112.9% in the 4th quarter. Sippican Capital Advisors now owns 71,650 shares of the company’s stock valued at $823,000 after buying an additional 38,000 shares during the last quarter. Kraematon Investment Advisors Inc. boosted its holdings in shares of TeraWulf by 2.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock valued at $488,000 after acquiring an additional 952 shares in the last quarter. Blue Square Asset Management LLC purchased a new stake in shares of TeraWulf in the fourth quarter valued at about $184,000. Royal Fund Management LLC acquired a new position in shares of TeraWulf during the fourth quarter worth about $215,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in TeraWulf during the 4th quarter worth approximately $384,000. 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.