TeraWulf Inc. (NASDAQ:WULF) Receives Average Rating of “Buy” from Brokerages

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.50.

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods started coverage on TeraWulf in a report on Wednesday, January 8th. They set a “market perform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Finally, B. Riley boosted their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th.

TeraWulf Stock Performance

WULF stock opened at $2.72 on Friday. The company’s fifty day moving average price is $4.23 and its 200-day moving average price is $5.43. TeraWulf has a one year low of $1.82 and a one year high of $9.30. The company has a market capitalization of $1.04 billion, a PE ratio of -13.60 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 company had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.43 million. The company’s quarterly revenue was up 50.2% on a year-over-year basis. On average, research analysts predict that TeraWulf will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of TeraWulf by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after acquiring an additional 4,093 shares during the last quarter. Intech Investment Management LLC purchased a new stake in TeraWulf in the third quarter worth $340,000. Charles Schwab Investment Management Inc. lifted its position in shares of TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TeraWulf by 66.7% during the third quarter. The Manufacturers Life Insurance Company now owns 145,554 shares of the company’s stock valued at $681,000 after purchasing an additional 58,235 shares during the period. Finally, FMR LLC grew its holdings in shares of TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.