TeraWulf (NASDAQ:WULF) Price Target Raised to $28.00 at Needham & Company LLC

Key Points

• Needham & Company LLC raised its price target on TeraWulf from $22 to $28 while keeping a buy rating, implying about 19.7% upside from the current share price.
• Other analysts remain mostly bullish on WULF, with several firms reiterating or setting higher targets; the stock now has a Moderate Buy consensus and an average target price of $26.67.
• TeraWulf’s latest earnings missed expectations, reporting a larger-than-expected loss of ($1.01) EPS versus the expected ($0.19), even though revenue came in close to estimates at $34.01 million.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price objective increased by research analysts at Needham & Company LLC from $22.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 19.71% from the stock's current price.

A number of other research firms also recently weighed in on WULF. Citigroup reissued an "outperform" rating on shares of TeraWulf in a research report on Thursday. Arete Research assumed coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a "buy" rating and a $30.00 target price for the company. Oppenheimer increased their target price on shares of TeraWulf from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Rosenblatt Securities reissued a "buy" rating and set a $27.00 target price on shares of TeraWulf in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of TeraWulf from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, March 11th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.67.

TeraWulf Stock Performance

Shares of WULF stock opened at $23.39 on Monday. TeraWulf has a 52-week low of $2.89 and a 52-week high of $25.76. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50-day simple moving average of $17.54 and a two-hundred day simple moving average of $15.15. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of -9.43 and a beta of 3.84.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.82). TeraWulf had a negative net margin of 611.46% and a negative return on equity of 196.13%. The company had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm's revenue was down 1.1% on a year-over-year basis. Research analysts anticipate that TeraWulf will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella acquired 3,171 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average cost of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director owned 270,129 shares in the company, valued at approximately $4,262,635.62. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Patrick Fleury sold 573,586 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $9,257,678.04. Following the completion of the transaction, the chief financial officer directly owned 3,205,000 shares of the company's stock, valued at approximately $51,728,700. This trade represents a 15.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. 15.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WULF. Vanguard Group Inc. boosted its holdings in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company's stock worth $386,558,000 after buying an additional 9,162,958 shares during the period. Voloridge Investment Management LLC bought a new position in TeraWulf in the 3rd quarter worth approximately $69,006,000. Wellington Management Group LLP boosted its holdings in TeraWulf by 36,193.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company's stock worth $44,559,000 after buying an additional 3,891,127 shares during the period. Jennison Associates LLC bought a new position in TeraWulf in the 1st quarter worth approximately $53,418,000. Finally, Marshall Wace LLP boosted its holdings in TeraWulf by 574.2% in the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company's stock worth $36,609,000 after buying an additional 2,713,587 shares during the period. 62.49% of the stock is owned by institutional investors.

TeraWulf Company Profile

TeraWulf, Inc NASDAQ: WULF is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

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