TeraWulf (NASDAQ:WULF) Reaches New 12-Month High on Analyst Upgrade

by · The Markets Daily

TeraWulf Inc. (NASDAQ:WULF – Get Free Report)’s stock price reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $6.00 to $9.50. Needham & Company LLC currently has a buy rating on the stock. TeraWulf traded as high as $9.30 and last traded at $8.52, with a volume of 9348025 shares. The stock had previously closed at $8.53.

Several other brokerages also recently commented on WULF. Northland Securities lifted their target price on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday. B. Riley reiterated a “buy” rating and set a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Stifel Canada downgraded 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 target price on shares of TeraWulf in a research note on Thursday, October 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of TeraWulf in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $7.21.

Read Our Latest Stock Report on TeraWulf

Institutional Trading of TeraWulf

Several institutional investors have recently added to or reduced their stakes in WULF. Point72 Asset Management L.P. bought a new stake in TeraWulf in the 2nd quarter valued at $22,443,000. Hood River Capital Management LLC bought a new stake in TeraWulf in the 2nd quarter valued at $20,532,000. Driehaus Capital Management LLC bought a new stake in TeraWulf in the 2nd quarter valued at $9,948,000. Duquesne Family Office LLC bought a new stake in shares of TeraWulf during the 2nd quarter valued at $9,301,000. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at $9,489,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Trading Down 6.3 %

The business has a 50-day moving average price of $5.30 and a two-hundred day moving average price of $4.31.

TeraWulf (NASDAQ:WULF – Get Free Report) last released its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.1 earnings per share for the current year.

TeraWulf Company Profile

(Get Free Report)

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.

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