TeraWulf (NASDAQ:WULF) Price Target Raised to $10.00 at Northland Securities

TeraWulf (NASDAQ:WULF) had its price objective upped by Northland Securities from $8.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 17.23% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Needham & Company LLC initiated coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Finally, B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a report on Monday, October 7th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $7.21.

TeraWulf Trading Down 3.3 %

NASDAQ WULF opened at $8.53 on Wednesday. TeraWulf has a 12 month low of $0.91 and a 12 month high of $9.11. The company’s 50 day simple moving average is $5.30 and its 200 day simple moving average is $4.31.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data 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, sell-side analysts anticipate that TeraWulf will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aspect Partners LLC acquired a new position in TeraWulf during the third quarter worth $26,000. Amalgamated Bank increased its position in TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares in the last quarter. KBC Group NV acquired a new stake in shares of TeraWulf during the 3rd quarter worth approximately $39,000. ARS Investment Partners LLC bought a new stake in shares of TeraWulf during the second quarter worth approximately $44,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in TeraWulf in the second quarter valued at approximately $44,000. 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.