Analysts Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $6.17

TeraWulf Inc. (NASDAQ:WULF) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.17.

WULF has been the topic of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Stifel Canada cut shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday. B. Riley reissued a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Needham & Company LLC initiated coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday, October 3rd.

Institutional Investors Weigh In On TeraWulf

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in TeraWulf by 17.7% during the 1st 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 grew its holdings in shares of TeraWulf by 260.8% during the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after buying an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp raised its position in TeraWulf by 97.8% during the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock valued at $3,757,000 after buying an additional 417,369 shares during the period. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in TeraWulf in the 2nd quarter worth about $1,095,000. Finally, Scientech Research LLC acquired a new stake in TeraWulf during the 2nd quarter worth about $1,040,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Trading Down 4.9 %

NASDAQ WULF opened at $6.20 on Wednesday. TeraWulf has a 12 month low of $0.89 and a 12 month high of $7.28. The company’s 50 day simple moving average is $4.83 and its 200 day simple moving average is $4.02.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The firm had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. As a group, analysts predict that TeraWulf will post -0.1 EPS for the current fiscal year.

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.