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

TeraWulf Inc. (NASDAQ:WULF)’s share price reached a new 52-week high on Monday . The company traded as high as $28.03 and last traded at $27.4850, with a volume of 3281180 shares trading hands. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research note on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research note on Friday, March 27th. Keefe, Bruyette & Woods raised their price target on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Roth Mkm restated a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Finally, Morgan Stanley set a $66.50 price target on TeraWulf in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TeraWulf has an average rating of “Moderate Buy” and a consensus price target of $31.86.

TeraWulf Price Performance

The stock has a 50-day moving average price of $22.65 and a 200 day moving average price of $17.33. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of -11.29 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. During the same quarter last year, the firm posted ($0.16) EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts forecast that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella bought 1,665 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $15.04 per share, for a total transaction of $25,041.60. Following the completion of the transaction, the director owned 280,052 shares of the company’s stock, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. This trade represents a 3.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,850 shares of company stock worth $10,778,114 in the last quarter. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in shares of TeraWulf during the first quarter worth about $179,000. NewEdge Advisors LLC grew its holdings in shares of TeraWulf by 25.6% during the first quarter. NewEdge Advisors LLC now owns 66,460 shares of the company’s stock worth $959,000 after buying an additional 13,527 shares during the last quarter. Honeycomb Asset Management LP purchased a new position in shares of TeraWulf during the first quarter worth about $722,000. Glenmede Trust Co. NA purchased a new position in shares of TeraWulf during the first quarter worth about $315,000. Finally, Vestor Capital LLC purchased a new position in shares of TeraWulf during the first quarter worth about $1,954,000. 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.