Brokerages Set TeraWulf Inc. (NASDAQ:WULF) PT at $5.71

TeraWulf Inc. (NASDAQ:WULF) has been given a consensus rating of “Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.71.

WULF has been the topic of a number of research analyst reports. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities raised their target price on shares of TeraWulf from $4.20 to $5.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC initiated coverage on shares of TeraWulf in a report on Wednesday, September 4th. They set a “buy” rating and a $6.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, September 3rd. Finally, Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th.

TeraWulf Stock Down 2.5 %

Shares of WULF stock opened at $4.31 on Tuesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51. The stock’s fifty day moving average price is $4.48 and its two-hundred day moving average price is $3.29.

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 business had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. As a group, analysts forecast that TeraWulf will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently made changes to their positions in WULF. Apollon Wealth Management LLC bought a new position in shares of TeraWulf during the fourth quarter worth about $27,000. Financial Advocates Investment Management acquired a new position in shares of TeraWulf in the 4th quarter worth approximately $39,000. Chesapeake Capital Corp IL bought a new stake in shares of TeraWulf in the 4th quarter valued at $85,000. GM Advisory Group LLC increased its position in shares of TeraWulf by 3.3% during the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after buying an additional 39,617 shares during the period. Finally, Partners Capital Investment Group LLP bought a new position in TeraWulf during the fourth quarter worth $29,000. 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.