Brokerages Set TeraWulf Inc. (NASDAQ:WULF) PT at $7.67

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) has received an average recommendation of "Buy" from the twelve research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.89.

A number of research firms recently weighed in on WULF. Rosenblatt Securities boosted their price target on shares of TeraWulf from $4.50 to $6.00 and gave the stock a "buy" rating in a research note on Thursday. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price target on the stock in a research note on Thursday, May 22nd. Jones Trading initiated coverage on TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. Finally, JMP Securities initiated coverage on TeraWulf in a report on Thursday, May 22nd. They set a "market outperform" rating and a $7.00 target price on the stock.

Institutional Trading of TeraWulf

A number of large investors have recently bought and sold shares of WULF. Barclays PLC boosted its holdings in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after buying an additional 343,016 shares during the period. Apollon Wealth Management LLC lifted its position in TeraWulf by 20.5% in the 4th quarter. Apollon Wealth Management LLC now owns 26,612 shares of the company's stock valued at $151,000 after acquiring an additional 4,529 shares in the last quarter. Van ECK Associates Corp lifted its position in TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock valued at $26,964,000 after acquiring an additional 2,028,383 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in TeraWulf by 30.0% in the 4th quarter. Vontobel Holding Ltd. now owns 52,784 shares of the company's stock worth $299,000 after purchasing an additional 12,172 shares during the period. Finally, Rhumbline Advisers increased its holdings in TeraWulf by 15.0% during the 4th quarter. Rhumbline Advisers now owns 347,001 shares of the company's stock worth $1,964,000 after purchasing an additional 45,322 shares in the last quarter. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Down 3.4%

NASDAQ:WULF traded down $0.15 during trading hours on Thursday, reaching $4.26. The company had a trading volume of 29,923,078 shares, compared to its average volume of 31,377,660. The stock has a 50-day moving average of $3.27 and a two-hundred day moving average of $4.50. TeraWulf has a one year low of $2.06 and a one year high of $9.30. The firm has a market capitalization of $1.64 billion, a PE ratio of -12.91 and a beta of 3.09.

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

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.