TeraWulf (NASDAQ:WULF) Stock Rating Upgraded by Stifel Canada

Stifel Canada upgraded shares of TeraWulf (NASDAQ:WULF) from a moderate buy rating to a strong-buy rating in a report issued on Friday, Zacks.com reports.

Several other equities research analysts also recently weighed in on WULF. B. Riley reaffirmed a buy rating and issued a $6.00 price objective on shares of TeraWulf in a report on Monday. Needham & Company LLC began coverage on TeraWulf in a report on Wednesday, September 4th. They set a buy rating and a $6.00 price objective on the stock. Cantor Fitzgerald restated an overweight rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Roth Capital upgraded TeraWulf to a strong-buy rating in a report on Tuesday, July 2nd. Finally, Roth Mkm restated a buy rating and issued a $6.50 price objective on shares of TeraWulf in a report on Monday, July 8th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, TeraWulf presently has an average rating of Buy and an average target price of $5.71.

TeraWulf Stock Performance

NASDAQ WULF opened at $4.03 on Friday. The company’s 50 day moving average price is $4.24 and its 200 day moving average price is $3.61. TeraWulf has a one year low of $0.89 and a one 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 net margin of 41.67% and a negative return on equity of 19.77%. Equities analysts anticipate that TeraWulf will post -0.11 earnings per share for the current year.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased 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 worth $30,830,000 after purchasing an additional 1,764,115 shares during the period. Van ECK Associates Corp increased its position in TeraWulf by 50.8% in the first 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 during the period. Point72 Asset Management L.P. bought a new position in TeraWulf during the second quarter worth about $22,443,000. Hood River Capital Management LLC bought a new position in TeraWulf during the second quarter worth about $20,532,000. Finally, Driehaus Capital Management LLC bought a new position in TeraWulf during the second quarter worth about $9,948,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.