Needham & Company LLC Increases TeraWulf (NASDAQ:WULF) Price Target to $9.50

TeraWulf (NASDAQ:WULF) had its price objective increased by stock analysts at Needham & Company LLC from $6.00 to $9.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 36.79% from the stock’s current price.

WULF has been the subject of a number of other research reports. Stifel Canada lowered TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Northland Securities boosted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research report on Monday, October 7th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of TeraWulf in a research report on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Thursday, October 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $7.21.

TeraWulf Trading Down 5.4 %

Shares of TeraWulf stock opened at $6.95 on Wednesday. TeraWulf has a 52 week low of $0.94 and a 52 week high of $9.30. The company’s 50-day moving average price is $5.37 and its two-hundred day moving average price is $4.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Aspect Partners LLC bought a new stake in shares of TeraWulf in the 3rd quarter valued at approximately $26,000. Amalgamated Bank lifted its stake in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after acquiring an additional 2,912 shares during the last quarter. FMR LLC grew its position in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after acquiring an additional 1,408 shares in the last quarter. KBC Group NV acquired a new position in shares of TeraWulf during the 3rd quarter worth $39,000. Finally, ARS Investment Partners LLC acquired a new position in shares of TeraWulf during the 2nd quarter worth $44,000. 62.49% of the stock is owned by institutional investors and hedge funds.

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.