TeraWulf Inc. (NASDAQ:WULF) Receives $5.71 Consensus Target Price from Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have been assigned an average rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $5.71.

WULF has been the topic of a number of recent analyst reports. Rosenblatt Securities raised their target price on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday. Roth Mkm reissued a “buy” rating and set a $6.50 price target on shares of TeraWulf in a research report on Monday, July 8th. Finally, Needham & Company LLC began coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $4.03 on Friday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51. The company’s 50 day simple moving average is $4.24 and its 200 day simple moving average is $3.61.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. On average, research analysts anticipate that TeraWulf will post -0.11 EPS for the current year.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. SG Americas Securities LLC lifted its position in TeraWulf by 260.8% during the 2nd quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after buying an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp lifted its position in TeraWulf by 97.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after buying an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of TeraWulf during the 2nd quarter worth about $1,095,000. Finally, Scientech Research LLC bought a new position in shares of TeraWulf in the 2nd quarter valued at about $1,040,000. Institutional investors and hedge funds 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.