TeraWulf (NASDAQ:WULF) Shares Gap Up – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) shares gapped up before the market opened on Monday . The stock had previously closed at $21.18, but opened at $24.15. TeraWulf shares last traded at $23.8080, with a volume of 19,253,957 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WULF. Roth Mkm reissued a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Citigroup began coverage on TeraWulf in a research note on Monday, June 29th. They set a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald boosted their price target on TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Sanford C. Bernstein assumed coverage on TeraWulf in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.10.

TeraWulf Trading Up 13.9%

The business’s 50 day moving average price is $24.43 and its two-hundred day moving average price is $18.35. 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 company has a market capitalization of $11.96 billion, a price-to-earnings ratio of -9.76 and a beta of 3.73.

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

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the sale, the chief executive officer directly owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Large investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at $29,000. Vermillion Wealth Management Inc. grew its position in TeraWulf by 1,191.0% during the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after purchasing an additional 2,394 shares in the last quarter. Solstein Capital LLC purchased a new position in shares of TeraWulf during the 4th quarter valued at $34,000. Comerica Bank increased its position in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after purchasing an additional 12,370 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in TeraWulf in the first quarter worth approximately $37,000. 62.49% of the stock is owned by institutional investors.

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.