TeraWulf (NASDAQ:WULF) Upgraded by Stifel Canada to “Strong-Buy”

Stifel Canada upgraded shares of TeraWulf (NASDAQ:WULF) from a moderate buy rating to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports.

WULF has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. B. Riley reiterated a buy rating and set a $6.00 price objective on shares of TeraWulf in a research report on Monday. Needham & Company LLC assumed coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They set a buy rating and a $6.00 target price on the stock. Roth Capital upgraded TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Finally, Rosenblatt Securities boosted their price objective on TeraWulf from $4.20 to $5.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf currently has an average rating of Buy and an average target price of $5.71.

TeraWulf Stock Down 8.4 %

NASDAQ:WULF opened at $4.03 on Friday. TeraWulf has a 52 week low of $0.89 and a 52 week high of $6.51. The firm’s 50-day simple moving average is $4.24 and its 200 day simple moving average is $3.61.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data 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 firm had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. Research analysts expect that TeraWulf will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC bought a new stake in shares of TeraWulf during the first quarter valued at approximately $29,000. Amalgamated Bank increased 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 acquiring an additional 2,912 shares in the last quarter. ARS Investment Partners LLC bought a new position in shares of TeraWulf in the second quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf in the second quarter valued at about $44,000. Finally, PEAK6 Investments LLC bought a new position in shares of TeraWulf during the first quarter valued at about $64,000. Institutional investors and hedge funds 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.