TeraWulf Inc. (NASDAQ:WULF) Short Interest Up 24.7% in October

TeraWulf Inc. (NASDAQ:WULF) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 59,470,000 shares, an increase of 24.7% from the October 15th total of 47,700,000 shares. Based on an average daily volume of 23,550,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 21.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WULF shares. Northland Securities raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, October 3rd. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC raised their price target on TeraWulf from $6.00 to $9.50 and gave the company a “buy” rating in a report on Wednesday. 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. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.21.

Institutional Investors Weigh In On TeraWulf

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the period. Chesapeake Capital Corp IL increased its position in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after acquiring an additional 1,700 shares during the last quarter. Amalgamated Bank lifted its holdings in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the period. Victory Capital Management Inc. boosted its position in TeraWulf by 13.3% in the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after purchasing an additional 4,093 shares during the last quarter. Finally, Aspect Partners LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Stock Down 5.4 %

TeraWulf stock opened at $6.95 on Friday. TeraWulf has a one year low of $0.94 and a one year high of $9.30. The business’s fifty day moving average is $5.37 and its 200 day moving average is $4.33.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. The company had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, research analysts anticipate that TeraWulf will post -0.1 EPS for the current year.

TeraWulf Company Profile

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.