Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $6.17

TeraWulf Inc. (NASDAQ:WULF) has been given a consensus recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.17.

Several analysts have issued reports on the company. Roth Mkm restated a “buy” rating and set a $6.50 price objective on shares of TeraWulf in a research note on Monday, July 8th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday. Needham & Company LLC assumed coverage on shares of TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price target on shares of TeraWulf in a report on Tuesday, October 8th.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $6.20 on Wednesday. TeraWulf has a 12-month low of $0.89 and a 12-month high of $7.28. The company has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $4.02.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share 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 during the quarter, compared to the consensus estimate of $35.73 million. As a group, analysts expect that TeraWulf will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently modified their holdings of the company. Aspect Partners LLC bought a new stake in TeraWulf in the 3rd quarter valued at about $26,000. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf during the first quarter valued at approximately $29,000. Amalgamated Bank boosted its position in shares of TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the period. ARS Investment Partners LLC bought a new position in TeraWulf in the 2nd quarter worth approximately $44,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in TeraWulf in the 2nd quarter valued at approximately $44,000. 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.