TeraWulf (NASDAQ:WULF) Reaches New 12-Month High – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $28.03 and last traded at $27.4850, with a volume of 3281180 shares changing hands. The stock had previously closed at $26.06.

Analyst Upgrades and Downgrades

WULF has been the subject of a number of recent research reports. Northland Securities set a $30.00 price target on shares of TeraWulf in a research note on Monday, May 4th. Cantor Fitzgerald increased their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Morgan Stanley set a $66.50 price target on TeraWulf in a research report on Wednesday, June 3rd. Sanford C. Bernstein started coverage on TeraWulf in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Jefferies Financial Group started coverage on TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.86.

TeraWulf Stock Up 8.1%

The company has a debt-to-equity ratio of 33.00, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a fifty day moving average price of $22.12 and a 200 day moving average price of $17.13. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of -11.33 and a beta of 3.82.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The business had revenue of $34.01 million during the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share. As a group, sell-side analysts expect that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Patrick Fleury sold 26,414 shares of TeraWulf stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the sale, the chief executive officer owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have purchased 6,500 shares of company stock worth $100,333 and have sold 1,120,850 shares worth $20,462,114. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Large investors have recently added to or reduced their stakes in the business. Comerica Bank grew its position in shares of TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the last quarter. Millennium Management LLC increased its position in TeraWulf by 47.8% during the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock worth $6,705,000 after buying an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after acquiring an additional 2,258 shares during the last quarter. Creative Planning lifted its position in shares of TeraWulf by 232.2% in the second quarter. Creative Planning now owns 47,665 shares of the company’s stock valued at $209,000 after acquiring an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of TeraWulf by 10.6% during the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after acquiring an additional 5,432 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.