TeraWulf (NASDAQ:WULF) Price Target Raised to $9.50 at Needham & Company LLC

TeraWulf (NASDAQ:WULF) had its target price lifted by Needham & Company LLC from $6.00 to $9.50 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on WULF. B. Riley restated a “buy” rating and set a $6.00 price target on shares of TeraWulf in a report on Monday, October 7th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Northland Securities upped their price objective on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and an average target price of $7.21.

TeraWulf Trading Down 13.9 %

WULF opened at $7.35 on Wednesday. The stock has a fifty day simple moving average of $5.30 and a two-hundred day simple moving average of $4.31. TeraWulf has a 12-month low of $0.91 and a 12-month high of $9.30.

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. The business had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative return on equity of 17.02% and a negative net margin of 41.88%. Research analysts forecast that TeraWulf will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares during the period. Point72 Asset Management L.P. bought a new stake in TeraWulf during the 2nd quarter valued at approximately $22,443,000. Hood River Capital Management LLC purchased a new position in TeraWulf in the 2nd quarter worth approximately $20,532,000. Charles Schwab Investment Management Inc. boosted its position in shares of TeraWulf by 258.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock worth $11,063,000 after acquiring an additional 1,704,013 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of TeraWulf during the 2nd quarter valued at about $9,948,000. 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.