TeraWulf (NASDAQ:WULF) Earns Buy Rating from Analysts at Jones Trading

Jones Trading assumed coverage on shares of TeraWulf (NASDAQ:WULF) in a research report report published on Monday,Benzinga reports. The firm issued a buy rating and a $4.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Northland Securities reissued an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of TeraWulf in a research note on Monday, March 3rd. B. Riley increased their price target on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $8.71.

TeraWulf Stock Performance

Shares of WULF stock opened at $2.73 on Monday. The company has a market cap of $1.05 billion, a P/E ratio of -13.65 and a beta of 2.70. TeraWulf has a fifty-two week low of $1.82 and a fifty-two week high of $9.30. The stock has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $5.43.

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

Hedge Funds Weigh In On TeraWulf

Several large investors have recently bought and sold shares of WULF. Charles Schwab Investment Management Inc. raised its holdings in shares of TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. State Street Corp boosted its stake in shares of TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after buying an additional 227,186 shares during the last quarter. GoalVest Advisory LLC bought a new position in TeraWulf in the 4th quarter valued at $651,000. Intech Investment Management LLC purchased a new position in shares of TeraWulf in the 3rd quarter worth about $340,000. Finally, Barclays PLC increased its holdings in TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after buying an additional 343,016 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

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.