TeraWulf (NASDAQ:WULF) Shares Gap Up to $2.03

TeraWulf Inc. (NASDAQ:WULFGet Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.03, but opened at $2.24. TeraWulf shares last traded at $2.14, with a volume of 11,429,096 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WULF shares. Stifel Nicolaus started coverage on TeraWulf in a research note on Wednesday, October 18th. They set a “buy” rating and a $3.00 price target on the stock. Cantor Fitzgerald decreased their price target on TeraWulf from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 14th. Finally, Stifel Canada restated a “speculative buy” rating on shares of TeraWulf in a research note on Tuesday, October 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.45.

Read Our Latest Stock Analysis on WULF

TeraWulf Stock Performance

The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $1.85 and a 200-day moving average price of $1.70.

TeraWulf (NASDAQ:WULFGet Free Report) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $18.96 million during the quarter, compared to analyst estimates of $20.39 million. TeraWulf had a negative net margin of 158.25% and a negative return on equity of 67.73%. As a group, analysts anticipate that TeraWulf Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Advisor Group Holdings Inc. grew its holdings in shares of TeraWulf by 2,542.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,700 shares of the company’s stock worth $31,000 after purchasing an additional 3,560 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of TeraWulf during the first quarter worth about $86,000. Apollon Wealth Management LLC purchased a new position in shares of TeraWulf during the fourth quarter worth about $27,000. Franklin Resources Inc. purchased a new position in shares of TeraWulf during the fourth quarter worth about $29,000. Finally, Global Retirement Partners LLC purchased a new position in shares of TeraWulf during the fourth quarter worth about $30,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

(Get Free Report)

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites in New York and Pennsylvania. TeraWulf Inc was founded in 2021 and is based in Easton, Maryland.

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