TeraWulf (NASDAQ:WULF) Given New $10.00 Price Target at Northland Securities

TeraWulf (NASDAQ:WULF) had its target price lifted by Northland Securities from $8.00 to $10.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

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

TeraWulf Trading Down 13.9 %

Shares of NASDAQ WULF opened at $7.35 on Wednesday. The company has a 50-day simple moving average of $5.30 and a 200-day simple moving average of $4.31. TeraWulf has a 12 month low of $0.91 and a 12 month high of $9.30.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $35.57 million for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Institutional Trading of TeraWulf

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of TeraWulf by 260.8% during the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock valued at $860,000 after acquiring an additional 139,722 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after acquiring an additional 417,369 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new stake in TeraWulf in the 2nd quarter valued at about $1,095,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in TeraWulf by 43.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company’s stock valued at $3,073,000 after purchasing an additional 199,345 shares during the period. 62.49% of the stock is owned by institutional investors.

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.