TeraWulf Inc (NASDAQ: WULF) Stock Forecast: $3 Per Share In 2024 With Positive Signs

NOVA

In today’s recent session, 6.98 million shares of the TeraWulf Inc (NASDAQ:WULF) have been traded, and its beta is 2.31. Most recently the company’s share price was $2.36, and it changed around -$0.07 or -2.88% from the last close, which brings the market valuation of the company to $713.29M. WULF at last check was trading at a discount to its 52-week high of $4.04, offering almost -71.19% off that amount. The share price’s 52-week low was $0.88, which indicates that the recent value has risen by an impressive 62.71% since then. We note from TeraWulf Inc’s average daily trading volume that its 10-day average is 26.96 million shares, with the 3-month average coming to 21.20 million.

TeraWulf Inc (NASDAQ:WULF) trade information

Instantly WULF has been showing red trend so far today with a performance of -2.88% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -1.67% year-to-date, but still down -8.17% over the last five days. On the other hand, TeraWulf Inc (NASDAQ:WULF) is 15.12% up in the 30-day period. We can see from the shorts that 37.69 million shares have been sold at a short interest cover period of 1.86 day(s).

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The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 21.33% from its current value. Analyst projections state that WULF is forecast to be at a low of $3 and a high of $3.

TeraWulf Inc (WULF) estimates and forecasts

TeraWulf Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 87.30 percent over the past six months and at a 137.14% annual growth rate that is well above the industry average of 11.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 100.00% in revenue this quarter, and will report an increase of 87.50% in the next quarter. The year-over-year growth rate is expected to be 106.40%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $35.9 million in revenue for the current quarter. 2 analysts expect TeraWulf Inc to make $29.68 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 211.30%.

TeraWulf Inc (NASDAQ:WULF)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 34.49% of TeraWulf Inc shares, and 21.52% of them are in the hands of institutional investors. The stock currently has a share float of 32.85%. TeraWulf Inc stock is held by 153 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 3.81% of the shares, which is about 8.83 million shares worth $15.46 million.

Blackrock Inc., with 2.21% or 5.12 million shares worth $8.97 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 4.94 million shares worth $8.65 million, making up 2.13% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 1.62 million shares worth around $2.84 million, which represents about 0.70% of the total shares outstanding.