TeraWulf (NASDAQ:WULF) Shares Gap Up – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $12.23, but opened at $13.44. TeraWulf shares last traded at $14.4530, with a volume of 14,166,026 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Northland Securities set a $23.25 price target on shares of TeraWulf in a research note on Wednesday, October 29th. Compass Point set a $17.00 target price on TeraWulf and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Rosenblatt Securities reissued a “buy” rating and issued a $24.00 target price on shares of TeraWulf in a research report on Tuesday, November 11th. Cantor Fitzgerald raised their price target on TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, Oppenheimer began coverage on TeraWulf in a report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

TeraWulf Stock Up 14.4%

The company has a market capitalization of $5.86 billion, a PE ratio of -40.69 and a beta of 3.57. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96. The firm has a 50 day simple moving average of $12.78 and a two-hundred day simple moving average of $8.01.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.13) earnings per share 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 54.98% and a negative net margin of 91.42%.The firm’s revenue was up 86.9% compared to the same quarter last year. Research analysts expect that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in shares of TeraWulf by 30.5% during the 1st quarter. New York State Common Retirement Fund now owns 82,499 shares of the company’s stock worth $225,000 after buying an additional 19,300 shares in the last quarter. AM Investment Strategies LLC purchased a new stake in shares of TeraWulf during the 1st quarter worth $78,000. Thoroughbred Financial Services LLC boosted its position in shares of TeraWulf by 167.9% during the 1st quarter. Thoroughbred Financial Services LLC now owns 127,000 shares of the company’s stock worth $346,000 after purchasing an additional 79,600 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TeraWulf by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company’s stock worth $65,193,000 after purchasing an additional 534,315 shares during the period. Finally, Nuveen LLC purchased a new position in shares of TeraWulf in the 1st quarter valued at about $1,770,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

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.