JMP Securities Raises TeraWulf (NASDAQ:WULF) Price Target to $13.00

Key Points

• JMP Securities raised TeraWulf's target price from $7.00 to $13.00, suggesting a potential upside of 45.59% from its current stock price.
• As of the latest reports, TeraWulf has a consensus rating of "Buy" with an average target price of $9.63, and multiple analysts have issued positive ratings on the stock.
• In its recent quarterly earnings, TeraWulf reported revenues of $47.64 million, which exceeded analysts' expectations, despite a slight miss on earnings per share.

TeraWulf (NASDAQ:WULF - Free Report) had its price target lifted by JMP Securities from $7.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also weighed in on WULF. Citizens Jmp upgraded shares of TeraWulf to a "strong-buy" rating and set a $7.00 target price on the stock in a report on Thursday, May 22nd. Rosenblatt Securities raised their price objective on TeraWulf from $6.00 to $10.50 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating on shares of TeraWulf in a report on Thursday. Finally, Northland Securities set a $12.00 price target on TeraWulf in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $10.39.

TeraWulf Trading Up 4.6%

NASDAQ:WULF traded up $0.41 during mid-day trading on Friday, hitting $9.38. The company had a trading volume of 160,709,642 shares, compared to its average volume of 53,972,328. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week high of $10.71. The firm has a market cap of $3.68 billion, a P/E ratio of -26.80 and a beta of 3.17. The business's fifty day moving average is $5.02 and its two-hundred day moving average is $4.03.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). TeraWulf had a negative net margin of 91.42% and a negative return on equity of 54.98%. The company had revenue of $47.64 million during the quarter, compared to the consensus estimate of $46.30 million. During the same period last year, the company earned ($0.03) earnings per share. The business's revenue was up 33.9% compared to the same quarter last year. As a group, research analysts expect that TeraWulf will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its position in TeraWulf by 5.2% in the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company's stock valued at $164,000 after buying an additional 1,869 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after acquiring an additional 2,258 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company's stock worth $30,000 after acquiring an additional 2,748 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of TeraWulf by 5.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company's stock valued at $261,000 after purchasing an additional 2,905 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock worth $43,000 after purchasing an additional 3,054 shares in the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.