TeraWulf (NASDAQ:WULF) Raised to Strong-Buy at Stifel Canada

TeraWulf (NASDAQ:WULF) was upgraded by investment analysts at Stifel Canada from a “moderate buy” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports.

WULF has been the subject of several other reports. Needham & Company LLC assumed coverage on shares of TeraWulf in a report on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price for the company. Rosenblatt Securities upped their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. Roth Mkm restated a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a research note on Monday, July 8th. Finally, Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf has a consensus rating of “Buy” and an average price target of $5.71.

TeraWulf Stock Down 8.4 %

Shares of WULF opened at $4.03 on Friday. The business’s 50-day moving average is $4.24 and its two-hundred day moving average is $3.61. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. The company had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. On average, analysts anticipate that TeraWulf will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently made changes to their positions in WULF. Vima LLC acquired a new stake in shares of TeraWulf in the fourth quarter worth approximately $346,000. GSG Advisors LLC purchased a new stake in shares of TeraWulf during the first quarter worth $237,000. Wealth Enhancement Advisory Services LLC raised its position in shares of TeraWulf by 26.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 380,461 shares of the company’s stock valued at $1,001,000 after buying an additional 79,925 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of TeraWulf in the first quarter worth about $29,000. Finally, Delta Financial Group Inc. boosted its position in TeraWulf by 33.6% during the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock worth $116,000 after acquiring an additional 11,100 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.