TeraWulf Inc. (NASDAQ:WULF) Given Average Recommendation of “Buy” by Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.64.

WULF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods initiated coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. B. Riley raised their target price on TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th.

TeraWulf Trading Down 12.4 %

Shares of TeraWulf stock opened at $3.67 on Tuesday. The business has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $5.59. TeraWulf has a 1-year low of $1.57 and a 1-year high of $9.30. The company has a market cap of $1.42 billion, a P/E ratio of -18.35 and a beta of 2.59.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. The company’s quarterly revenue was up 50.2% on a year-over-year basis. Equities research analysts forecast that TeraWulf will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in WULF. Rosenberg Matthew Hamilton acquired a new position in TeraWulf during the 4th quarter valued at about $32,000. FMR LLC boosted its stake in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after purchasing an additional 1,408 shares during the last quarter. KBC Group NV acquired a new position in TeraWulf during the 3rd quarter valued at about $39,000. CoreCap Advisors LLC boosted its stake in TeraWulf by 67.9% during the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after purchasing an additional 3,054 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in TeraWulf during the 3rd quarter valued at about $47,000. 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.