TeraWulf (NASDAQ:WULF) Stock Price Expected to Rise, Northland Securities Analyst Says

TeraWulf (NASDAQ:WULF) had its target price upped by equities researchers at Northland Securities from $8.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 43.99% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Stifel Canada downgraded shares of TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Needham & Company LLC initiated coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $7.21.

TeraWulf Stock Down 5.4 %

WULF stock opened at $6.95 on Wednesday. TeraWulf has a 12 month low of $0.94 and a 12 month high of $9.30. The company has a 50-day moving average price of $5.37 and a 200 day moving average price of $4.33.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. As a group, research analysts forecast that TeraWulf will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in TeraWulf during the second quarter worth $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf during the 2nd quarter valued at $20,532,000. Charles Schwab Investment Management Inc. increased its holdings in shares of TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after acquiring an additional 1,704,013 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of TeraWulf in the 2nd quarter worth $9,948,000. Hedge funds and other institutional investors 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.