Needham & Company LLC Initiates Coverage on TeraWulf (NASDAQ:WULF)

Needham & Company LLC began coverage on shares of TeraWulf (NASDAQ:WULF) in a research report report published on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $6.00 price objective on the stock.

WULF has been the subject of several other reports. Cantor Fitzgerald reissued an overweight rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, September 3rd. B. Riley restated a buy rating and issued a $6.00 price target on shares of TeraWulf in a research note on Monday, August 26th. Roth Capital upgraded shares of TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Rosenblatt Securities increased their target price on shares of TeraWulf from $4.20 to $5.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Finally, Roth Mkm reiterated a buy rating and issued a $6.50 price target on shares of TeraWulf in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TeraWulf has a consensus rating of Buy and an average target price of $5.71.

TeraWulf Stock Down 11.5 %

WULF stock opened at $3.73 on Wednesday. TeraWulf has a one year low of $0.89 and a one year high of $6.51. The company has a fifty day moving average price of $4.56 and a two-hundred day moving average price of $3.24.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The company had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. Research analysts forecast that TeraWulf will post -0.1 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in TeraWulf by 17.7% in the first 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 in the second quarter valued at approximately $22,443,000. Hood River Capital Management LLC bought a new stake in shares of TeraWulf during the second quarter worth $20,532,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of TeraWulf during the second quarter worth $9,948,000. Institutional investors 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.