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

TeraWulf Inc. (NASDAQ:WULF) traded up 7.7% during trading on Tuesday . The stock traded as high as $16.98 and last traded at $16.8820. 7,530,702 shares traded hands during trading, a decline of 76% from the average session volume of 30,779,195 shares. The stock had previously closed at $15.68.

Analyst Ratings Changes

A number of research firms have commented on WULF. Citizens Jmp set a $22.00 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price objective on shares of TeraWulf in a report on Tuesday, December 23rd. Compass Point set a $17.00 target price on TeraWulf and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a research report on Tuesday, February 3rd. Finally, B. Riley Financial upped their price objective on TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.31.

TeraWulf Trading Up 12.4%

The firm’s 50-day simple moving average is $13.73 and its 200-day simple moving average is $12.60. The firm has a market capitalization of $7.38 billion, a PE ratio of -12.40 and a beta of 3.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently bought and sold shares of WULF. Hamilton Wealth LLC grew its holdings in shares of TeraWulf by 14.1% in the fourth quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock worth $181,000 after purchasing an additional 1,950 shares during the last quarter. Invesco Ltd. raised its holdings in TeraWulf by 149.8% during the 4th quarter. Invesco Ltd. now owns 3,575,310 shares of the company’s stock valued at $41,080,000 after buying an additional 2,144,209 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in TeraWulf during the 4th quarter valued at $117,000. Feynman Point Asset Management LLC bought a new stake in TeraWulf in the 4th quarter worth $1,930,000. Finally, Galaxy Group Investments LLC purchased a new position in shares of TeraWulf in the fourth quarter valued at about $1,337,000. 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.