TeraWulf Inc. (NASDAQ:WULF) Receives Consensus Recommendation of “Buy” from Brokerages

TeraWulf Inc. (NASDAQ:WULF) has earned a consensus rating of “Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.21.

WULF has been the subject of several recent research reports. Roth Mkm initiated coverage on shares of TeraWulf in a research report on Tuesday. They issued a “buy” rating and a $6.50 price target for the company. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective for the company. Compass Point dropped their price objective on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday. Finally, B. Riley raised their price objective on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th.

TeraWulf Stock Up 3.2 %

Shares of WULF opened at $5.21 on Thursday. The company has a 50-day simple moving average of $3.03 and a 200-day simple moving average of $2.41. TeraWulf has a 52 week low of $0.89 and a 52 week high of $5.37.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. On average, research analysts anticipate that TeraWulf will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.88% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in TeraWulf by 50.8% in the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after purchasing an additional 2,268,870 shares during the period. Vanguard Group Inc. raised its holdings in TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in TeraWulf by 126.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares during the period. Axxcess Wealth Management LLC raised its holdings in TeraWulf by 356.2% in the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after purchasing an additional 780,786 shares during the period. Finally, Luminus Management LLC raised its holdings in TeraWulf by 97.4% in the third quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock worth $1,385,000 after purchasing an additional 542,496 shares during the period. 62.49% of the stock is owned by institutional investors.

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.