TeraWulf (NASDAQ:WULF) Shares Gap Up to $3.94

Shares of TeraWulf Inc. (NASDAQ:WULF) gapped up before the market opened on Tuesday . The stock had previously closed at $3.94, but opened at $4.05. TeraWulf shares last traded at $4.08, with a volume of 1,242,330 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WULF shares. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a report on Monday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, September 3rd. Needham & Company LLC assumed coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 target price for the company. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Rosenblatt Securities lifted their target price on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.71.

TeraWulf Trading Up 5.6 %

The stock’s fifty day moving average price is $4.43 and its 200-day moving average price is $3.33.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The business had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. Analysts forecast that TeraWulf Inc. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently modified their holdings of WULF. Amalgamated Bank grew its position in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after acquiring an additional 2,912 shares in the last quarter. ARS Investment Partners LLC acquired a new position in TeraWulf during the second quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. bought a new position in shares of TeraWulf in the second quarter valued at approximately $44,000. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf in the first quarter worth $29,000. Finally, Partners Capital Investment Group LLP acquired a new position in TeraWulf during the 4th quarter worth $29,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.