TeraWulf (NASDAQ:WULF) Cut to Moderate Buy at Stifel Canada

Stifel Canada downgraded shares of TeraWulf (NASDAQ:WULF) from a strong-buy rating to a moderate buy rating in a research report sent to investors on Tuesday, Zacks.com reports.

Several other equities analysts also recently weighed in on WULF. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, October 7th. Roth Mkm reiterated a “buy” rating and issued a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Needham & Company LLC assumed coverage on TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective for the company. Six 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, TeraWulf has an average rating of “Buy” and a consensus price target of $6.17.

TeraWulf Stock Down 4.9 %

NASDAQ WULF opened at $6.20 on Tuesday. TeraWulf has a 12-month low of $0.89 and a 12-month high of $7.28. The company has a fifty day simple moving average of $4.83 and a two-hundred day simple moving average of $4.02.

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

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of WULF. Amalgamated Bank grew its holdings in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the period. Aspect Partners LLC acquired a new stake in TeraWulf in the 3rd quarter valued at $26,000. Price T Rowe Associates Inc. MD increased its holdings in TeraWulf by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after acquiring an additional 6,450 shares in the last quarter. Sippican Capital Advisors raised its position in TeraWulf by 31.2% during the third quarter. Sippican Capital Advisors now owns 27,150 shares of the company’s stock worth $127,000 after acquiring an additional 6,450 shares during the period. Finally, ARS Investment Partners LLC purchased a new position in TeraWulf during the second quarter valued at $44,000. Hedge funds and other 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.