TeraWulf (NASDAQ:WULF) Hits New 52-Week High – What’s Next?

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WULF shares. Morgan Stanley set a $66.50 price objective on shares of TeraWulf in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods boosted their target price on TeraWulf from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Citigroup restated a “market outperform” rating on shares of TeraWulf in a research note on Thursday, June 4th. Jefferies Financial Group initiated coverage on TeraWulf in a research report on Thursday, May 14th. They set a “buy” rating and a $28.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, TeraWulf has a consensus rating of “Moderate Buy” and an average price target of $31.86.

TeraWulf Stock Performance

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

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

Insiders Place Their Bets

In other TeraWulf news, CFO Patrick Fleury sold 26,414 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $426,321.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael C. Bucella acquired 1,665 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $15.04 per share, with a total value of $25,041.60. Following the purchase, the director directly owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 6,500 shares of company stock worth $100,333 and have sold 1,120,850 shares worth $20,462,114. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently modified their holdings of WULF. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the 3rd quarter worth about $29,000. First United Bank & Trust acquired a new position in TeraWulf during the first quarter worth approximately $37,000. Vermillion Wealth Management Inc. increased 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 worth $30,000 after buying an additional 2,394 shares during the period. Solstein Capital LLC purchased a new stake in TeraWulf in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in TeraWulf in the first quarter valued at approximately $48,000. 62.49% of the stock is owned by hedge funds and other 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.