TeraWulf (NASDAQ:WULF) Reaches New 1-Year High – Time to Buy?

Shares of TeraWulf Inc. (NASDAQ:WULF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.73 and last traded at $26.8860, with a volume of 4234520 shares trading hands. The stock had previously closed at $25.86.

Wall Street Analysts Forecast Growth

WULF has been the subject of a number of research analyst reports. Morgan Stanley set a $66.50 price objective on shares of TeraWulf in a research report on Wednesday, June 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price objective on shares of TeraWulf in a research report on Monday, May 11th. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research report on Friday, April 17th. Jefferies Financial Group initiated coverage on shares of TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective for the company. Finally, B. Riley Financial upped their price objective on shares of TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.72.

TeraWulf Price Performance

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of -9.35 and a beta of 3.82. The company’s 50-day moving average is $21.67 and its 200-day moving average is $16.94.

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

Insiders Place Their Bets

In other news, Director Michael C. Bucella acquired 1,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $15.04 per share, with a total value of $25,041.60. Following the completion of the purchase, the director owned 280,052 shares of the company’s stock, valued at $4,211,982.08. This represents a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the sale, the chief executive officer directly owned 4,249,202 shares in the company, valued at $103,808,004.86. This represents a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have bought 6,500 shares of company stock valued at $100,333 and have sold 1,120,850 shares valued at $20,462,114. Insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% during the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after purchasing an additional 2,617,617 shares during the last quarter. Morgan Stanley grew its stake in shares of TeraWulf by 8.1% during the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock valued at $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock valued at $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp grew its stake in shares of TeraWulf by 4.2% during the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock valued at $84,446,000 after purchasing an additional 298,645 shares during the last quarter. 62.49% of the stock is owned by institutional investors.

About TeraWulf

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.