TeraWulf (NASDAQ:WULF) Stock Price Target Lowered at Needham & Company LLC

Key Points

• Needham lowered its TeraWulf price target from $33 to $25 but maintained a Buy rating; the new target implies about 120% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: the consensus rating is Moderate Buy, with an average price target of $30.27. Other firms have also cut targets recently, including B. Riley, which lowered its target from $40 to $26 while keeping a Buy rating.
• TeraWulf beat quarterly estimates, reporting a loss of $0.03 per share versus expectations of a $0.18 loss, and revenue of $76.23 million, up 50.7% year over year.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price target dropped by equities research analysts at Needham & Company LLC from $33.00 to $25.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 119.88% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. B. Riley Financial decreased their target price on shares of TeraWulf from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, October 30th. TD Cowen assumed coverage on shares of TeraWulf in a research report on Monday, October 12th. They set a "buy" rating and a $21.00 price target on the stock. Chardan Capital reiterated a "buy" rating and issued a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. Wells Fargo & Company began coverage on shares of TeraWulf in a research note on Thursday, September 17th. They issued an "overweight" rating and a $30.00 price target for the company. Finally, Northland Securities set a $22.50 price objective on shares of TeraWulf in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.27.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $11.37 on Monday. The stock has a 50 day moving average price of $14.21 and a 200 day moving average price of $17.95. TeraWulf has a 52 week low of $9.51 and a 52 week high of $29.84. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $5.67 billion, a PE ratio of -3.48 and a beta of 4.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. TeraWulf had a positive return on equity of 336.44% and a negative net margin of 410.92%. The firm had revenue of $76.23 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the previous year, the firm earned ($1.13) EPS. The business's quarterly revenue was up 50.7% on a year-over-year basis. Analysts predict that TeraWulf will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares of the company's stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella acquired 6,085 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares of the company's stock, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 11,968 shares of company stock valued at $189,962 in the last quarter. 15.90% of the stock is currently owned by insiders.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of WULF. Engle Capital Management L.P. grew its holdings in shares of TeraWulf by 574.3% during the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company's stock worth $42,570,000 after purchasing an additional 2,512,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in TeraWulf in the second quarter valued at about $3,534,000. Jennison Associates LLC acquired a new position in TeraWulf in the first quarter valued at about $53,418,000. Troluce Capital Advisors LLC acquired a new position in TeraWulf in the first quarter valued at about $33,189,000. Finally, Alyeska Investment Group L.P. bought a new stake in TeraWulf during the second quarter worth about $14,223,000. Institutional investors own 62.49% of the company's stock.

About TeraWulf

TeraWulf, Inc develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing.

Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

Founded in 2021, TeraWulf was co-founded by Paul Prager, who serves as the company's chief executive officer.

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