Northland Securities Issues Positive Forecast for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF) had its price target boosted by investment analysts at Northland Securities from $8.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price target points to a potential upside of 43.99% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC began coverage on TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 price target on the stock. B. Riley reissued a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday, October 3rd. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.21.

TeraWulf Stock Down 5.4 %

NASDAQ WULF opened at $6.95 on Wednesday. The firm’s fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $4.33. TeraWulf has a 12-month low of $0.94 and a 12-month high of $9.30.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. TeraWulf had a negative return on equity of 17.02% and a negative net margin of 41.88%. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. On average, analysts predict that TeraWulf will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after purchasing an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL lifted its stake in shares of TeraWulf by 6.6% in the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after purchasing an additional 1,700 shares during the period. Amalgamated Bank lifted its stake in shares of TeraWulf by 57.7% in the 2nd 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. Victory Capital Management Inc. boosted its holdings in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after buying an additional 4,093 shares in the last quarter. Finally, Aspect Partners LLC acquired a new stake in TeraWulf during the third quarter valued at $26,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.