TeraWulf (NASDAQ:WULF) Reaches New 12-Month High – Here’s Why

TeraWulf Inc. (NASDAQ:WULF)’s stock price reached a new 52-week high on Monday . The company traded as high as $29.73 and last traded at $29.3750, with a volume of 343431 shares changing hands. The stock had previously closed at $28.98.

Wall Street Analyst Weigh In

WULF has been the subject of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target on shares of TeraWulf in a research note on Friday, April 17th. Needham & Company LLC raised their target price on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, May 11th. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of TeraWulf in a report on Wednesday, May 27th. B. Riley Financial increased their price target on shares of TeraWulf from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Northland Securities set a $30.00 price objective on shares of TeraWulf in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TeraWulf presently has an average rating of “Moderate Buy” and a consensus price target of $31.86.

TeraWulf Stock Down 0.3%

The firm’s fifty day moving average price is $23.37 and its 200-day moving average price is $17.61. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of -11.68 and a beta of 3.82. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) EPS. Sell-side analysts expect that TeraWulf Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 520,850 shares of company stock valued at $10,778,114 in the last quarter. 15.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in WULF. Kraematon Investment Advisors Inc. raised its holdings in TeraWulf by 2.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock worth $488,000 after buying an additional 952 shares during the last quarter. R Squared Ltd increased its position in shares of TeraWulf by 5.0% during the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after acquiring an additional 1,056 shares in the last quarter. Franklin Resources Inc. lifted its position in TeraWulf by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after acquiring an additional 1,259 shares in the last quarter. Rafferty Asset Management LLC lifted its position in TeraWulf by 10.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Xponance Inc. boosted its stake in TeraWulf by 7.3% during the 3rd quarter. Xponance Inc. now owns 22,215 shares of the company’s stock valued at $254,000 after purchasing an additional 1,503 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

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.