JMP Securities Initiates Coverage on TeraWulf (NASDAQ:WULF)

Equities research analysts at JMP Securities started coverage on shares of TeraWulf (NASDAQ:WULF - Get Free Report) in a research report issued on Thursday,Benzinga reports. The brokerage set a "market outperform" rating and a $7.00 price target on the stock. JMP Securities' price target suggests a potential upside of 75.26% from the stock's previous close.

Several other equities analysts also recently commented on WULF. Citizens Jmp began coverage on TeraWulf in a research report on Thursday. They issued an "outperform" rating and a $7.00 price objective on the stock. Rosenblatt Securities cut their price objective on TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Jones Trading began coverage on TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective on the stock. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $7.67.

TeraWulf Trading Up 2.1%

NASDAQ:WULF traded up $0.08 during midday trading on Thursday, hitting $3.99. 23,672,765 shares of the company traded hands, compared to its average volume of 30,176,344. The firm's fifty day moving average is $2.97 and its 200-day moving average is $4.85. TeraWulf has a 12-month low of $1.96 and a 12-month high of $9.30. The firm has a market capitalization of $1.54 billion, a P/E ratio of -12.16 and a beta of 3.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm's revenue was down 18.9% on a year-over-year basis. On average, research analysts expect that TeraWulf will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of TeraWulf by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock worth $13,980,000 after buying an additional 105,997 shares in the last quarter. Soros Fund Management LLC bought a new stake in TeraWulf during the fourth quarter valued at about $8,632,000. Wellington Management Group LLP boosted its position in TeraWulf by 1,760.0% during the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock valued at $6,671,000 after purchasing an additional 1,115,228 shares in the last quarter. GoalVest Advisory LLC bought a new stake in TeraWulf during the fourth quarter valued at about $651,000. Finally, Barclays PLC boosted its position in TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after purchasing an additional 343,016 shares in the last quarter. Institutional investors own 62.49% of the company's stock.

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.

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