TeraWulf Inc. (NASDAQ:WULF) Given Average Rating of “Buy” by Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have earned an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.71.

A number of equities analysts have recently weighed in on WULF shares. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, August 26th. Roth Mkm restated a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Tuesday, September 3rd. Rosenblatt Securities upped their price objective 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, Needham & Company LLC started coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target for the company.

TeraWulf Trading Down 1.6 %

Shares of NASDAQ WULF opened at $4.24 on Tuesday. The business’s 50 day moving average is $4.46 and its 200-day moving average is $3.31. TeraWulf has a 1-year low of $0.89 and a 1-year high of $6.51.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The business 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%. On average, sell-side analysts forecast that TeraWulf will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of TeraWulf in the second quarter worth $22,443,000. Hood River Capital Management LLC bought a new position in shares of TeraWulf in the second quarter worth approximately $20,532,000. Van ECK Associates Corp raised its holdings in TeraWulf by 50.8% during the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares during the period. Driehaus Capital Management LLC purchased a new stake in TeraWulf during the 2nd quarter valued at approximately $9,948,000. Finally, Duquesne Family Office LLC bought a new stake in TeraWulf in the 2nd quarter valued at $9,301,000. 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.