TeraWulf (NASDAQ:WULF) Hits New 12-Month High – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.55 and last traded at $6.43, with a volume of 20537336 shares traded. The stock had previously closed at $6.21.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Roth Mkm restated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research note on Tuesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and an average price target of $6.17.

TeraWulf Trading Up 5.2 %

The stock’s fifty day simple moving average is $4.42 and its two-hundred day simple moving average is $3.77.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. Sell-side analysts anticipate that TeraWulf Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of TeraWulf

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of TeraWulf during the second quarter valued at $22,443,000. Hood River Capital Management LLC acquired a new position in TeraWulf during the 2nd quarter valued at about $20,532,000. Van ECK Associates Corp raised its position in shares of TeraWulf by 50.8% during the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after buying an additional 2,268,870 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of TeraWulf in the 2nd quarter worth approximately $9,948,000. Finally, Duquesne Family Office LLC bought a new position in shares of TeraWulf in the second quarter valued at approximately $9,301,000. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

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.