TeraWulf (NASDAQ:WULF) Sees Strong Trading Volume – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) shares saw an uptick in trading volume on Thursday . 26,276,311 shares were traded during trading, an increase of 30% from the previous session’s volume of 20,229,656 shares.The stock last traded at $6.39 and had previously closed at $6.40.

Analyst Ratings Changes

A number of research firms have weighed in on WULF. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Roth Mkm reissued a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Stifel Canada raised shares of TeraWulf from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.17.

TeraWulf Stock Down 5.9 %

The firm’s 50-day moving average is $4.54 and its 200 day moving average is $3.82.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WULF. Vanguard Group Inc. increased its stake in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares during the last quarter. Van ECK Associates Corp increased its position in 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 purchasing an additional 2,268,870 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in TeraWulf during the 2nd quarter worth approximately $22,443,000. Hood River Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter worth approximately $20,532,000. Finally, Driehaus Capital Management LLC acquired a new stake in TeraWulf during the 2nd quarter worth approximately $9,948,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.