TeraWulf (NASDAQ:WULF) Shares Gap Up – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.20, but opened at $3.35. TeraWulf shares last traded at $3.38, with a volume of 6,148,247 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WULF shares. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Monday, March 3rd. B. Riley raised their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and set a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating for the company. Finally, Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $9.50.

TeraWulf Price Performance

The business’s 50-day moving average price is $4.43 and its two-hundred day moving average price is $5.47. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -16.40 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf’s quarterly revenue was up 50.2% on a year-over-year basis. Equities analysts predict that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently bought and sold shares of WULF. Driehaus Capital Management LLC raised its position in shares of TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock valued at $72,070,000 after acquiring an additional 412,877 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock worth $43,232,000 after purchasing an additional 453,429 shares during the period. State Street Corp raised its holdings in shares of TeraWulf by 3.8% during the third quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after purchasing an additional 227,186 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after buying an additional 955,795 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after buying an additional 2,028,383 shares during the period. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.