Wall Street Zen Upgrades TeraWulf (NASDAQ:WULF) to Hold

Key Points

• Wall Street Zen has upgraded TeraWulf (NASDAQ:WULF) from a "strong sell" to a "hold" rating, reflecting a positive shift in analyst sentiment.
• Despite a reported loss per share of ($0.05) for the last quarter, TeraWulf's revenue increased by 33.9% year-over-year, amounting to $47.64 million.
• Analysts have varying price targets for TeraWulf, with recent upgrades ranging from $7.00 to $13.00, leading to an average target price of $9.94.

TeraWulf (NASDAQ:WULF - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued on Saturday.

Several other analysts also recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of TeraWulf in a research note on Thursday. Citizens Jmp raised TeraWulf to a "strong-buy" rating and set a $7.00 price objective on the stock in a research note on Thursday, May 22nd. Roth Capital lifted their price target on TeraWulf from $7.00 to $12.50 and gave the company a "buy" rating in a research note on Friday. Northland Securities set a $12.00 price target on TeraWulf in a research note on Thursday. Finally, JMP Securities lifted their price target on TeraWulf from $7.00 to $13.00 and gave the company a "market outperform" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, TeraWulf currently has an average rating of "Buy" and an average target price of $9.94.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $8.97 on Friday. The company has a market capitalization of $3.52 billion, a PE ratio of -25.63 and a beta of 3.17. TeraWulf has a 12 month low of $2.06 and a 12 month high of $9.30. The company has a current ratio of 0.66, a quick ratio of 1.90 and a debt-to-equity ratio of 2.96. The stock's fifty day simple moving average is $4.92 and its 200 day simple moving average is $4.01.

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

Hedge Funds Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of WULF. Edmond DE Rothschild Holding S.A. bought a new position in shares of TeraWulf in the 1st quarter valued at about $29,000. Nisa Investment Advisors LLC grew its holdings in shares of TeraWulf by 135.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company's stock valued at $29,000 after acquiring an additional 3,784 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of TeraWulf by 265.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company's stock valued at $29,000 after acquiring an additional 4,800 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of TeraWulf by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company's stock valued at $30,000 after acquiring an additional 2,748 shares in the last quarter. Finally, Calamos Advisors LLC bought a new position in TeraWulf during the first quarter worth about $33,000. Institutional investors own 62.49% of the company's stock.

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.

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