TeraWulf Inc. (NASDAQ:WULF) Given Average Rating of "Buy" by Brokerages

Key Points

• TeraWulf Inc. (NASDAQ:WULF) has received an average recommendation of "Buy" from analysts, with a consensus target price of $11.22.
• Insider activity includes Director Amanda Fabiano selling 4,600 shares for $39,744, reducing her stake by 10.14%.
• Several hedge funds have increased their positions in TeraWulf, with Ameriprise Financial increasing theirs by 33.5% in the fourth quarter.

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $11.2222.

WULF has been the topic of several recent research reports. Rosenblatt Securities lifted their target price on shares of TeraWulf from $10.50 to $12.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Cantor Fitzgerald upped their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Compass Point initiated coverage on shares of TeraWulf in a report on Monday, September 15th. They issued a "buy" rating on the stock. B. Riley raised their price target on shares of TeraWulf from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Northland Securities boosted their target price on shares of TeraWulf from $12.00 to $15.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th.

Insider Buying and Selling

In related news, Director Amanda Fabiano sold 4,600 shares of TeraWulf stock in a transaction on Friday, August 15th. The stock was sold at an average price of $8.64, for a total transaction of $39,744.00. Following the completion of the sale, the director owned 40,769 shares of the company's stock, valued at approximately $352,244.16. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in the business. Hodges Capital Management Inc. raised its holdings in TeraWulf by 17,747.4% during the 1st quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company's stock valued at $9,745,000 after buying an additional 3,549,479 shares during the period. Bank of America Corp DE grew its stake in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company's stock worth $63,038,000 after purchasing an additional 2,617,617 shares in the last quarter. Two Seas Capital LP raised its holdings in shares of TeraWulf by 966.9% in the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company's stock valued at $10,017,000 after acquiring an additional 2,072,729 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of TeraWulf in the 2nd quarter worth approximately $8,949,000. Finally, Goodlander Investment Management LLC bought a new stake in TeraWulf during the 2nd quarter valued at $8,760,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Stock Performance

Shares of TeraWulf stock traded up $0.62 on Friday, hitting $11.60. The stock had a trading volume of 35,874,208 shares, compared to its average volume of 45,483,160. The business's 50 day moving average is $7.60 and its two-hundred day moving average is $4.93. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -33.33 and a beta of 3.36. TeraWulf has a twelve month low of $2.06 and a twelve month high of $11.74. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96.

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

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.