TeraWulf (NASDAQ:WULF) Shares Gap Up After Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up before the market opened on Wednesday after Keefe, Bruyette & Woods upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $11.15, but opened at $11.81. Keefe, Bruyette & Woods now has a $24.00 price target on the stock, up from their previous price target of $9.50. TeraWulf shares last traded at $11.6440, with a volume of 3,946,740 shares traded.

A number of other analysts also recently issued reports on WULF. Compass Point set a $17.00 price target on TeraWulf and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. Wall Street Zen downgraded TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Citizens Jmp boosted their price objective on shares of TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Finally, UBS Group set a $18.25 target price on shares of TeraWulf in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.15.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella purchased 4,178 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the purchase, the director directly owned 266,958 shares in the company, valued at approximately $3,206,165.58. This trade represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently made changes to their positions in WULF. Edmond DE Rothschild Holding S.A. purchased a new stake in TeraWulf during the 1st quarter valued at approximately $29,000. Nisa Investment Advisors LLC increased its holdings in shares of TeraWulf by 135.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock valued at $29,000 after purchasing an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of TeraWulf by 265.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth $29,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of TeraWulf by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after purchasing an additional 2,748 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Trading Up 3.0%

The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $4.81 billion, a PE ratio of -8.09 and a beta of 3.69. The business’s 50-day moving average is $13.45 and its two-hundred day moving average is $10.03.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). The firm had revenue of $50.58 million for the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business’s quarterly revenue was up 86.9% on a year-over-year basis. As a group, equities research analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

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.