TeraWulf (NASDAQ:WULF) Shares Up 3.2% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) rose 3.2% during mid-day trading on Tuesday . The stock traded as high as $11.77 and last traded at $11.4070. Approximately 5,355,622 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 44,853,684 shares. The stock had previously closed at $11.05.

Wall Street Analyst Weigh In

WULF has been the topic of a number of recent research reports. JMP Securities set a $22.00 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Northland Securities set a $23.25 price target on TeraWulf in a report on Wednesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $24.00 price target on shares of TeraWulf in a report on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a report on Tuesday, November 11th. Finally, UBS Group set a $18.25 target price on shares of TeraWulf in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.42.

TeraWulf Stock Up 9.9%

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96. The company has a fifty day simple moving average of $12.71 and a 200 day simple moving average of $7.92. The firm has a market capitalization of $5.08 billion, a P/E ratio of -34.43 and a beta of 3.57.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The company had revenue of $50.58 million during the quarter, compared to analysts’ expectations of $56.27 million. The firm’s revenue was up 86.9% on a year-over-year basis. On average, equities analysts expect that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in shares of TeraWulf in the 1st quarter worth $29,000. Nisa Investment Advisors LLC increased its holdings in TeraWulf by 135.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after buying an additional 3,784 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in TeraWulf by 265.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after buying an additional 4,800 shares in the last quarter. Advisors Asset Management Inc. raised its position in TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after buying an additional 2,748 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in TeraWulf during the 1st quarter valued at about $33,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

About TeraWulf

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.