Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $7.67

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.89.

Several analysts have issued reports on WULF shares. Jones Trading began coverage on TeraWulf in a report on Monday, March 31st. They set a “buy” rating and a $4.00 price target for the company. Citizens Jmp upgraded shares of TeraWulf to a “strong-buy” rating and set a $7.00 price target on the stock in a report on Thursday, May 22nd. JMP Securities began coverage on TeraWulf in a research report on Thursday, May 22nd. They set a “market outperform” rating and a $7.00 target price for the company. Finally, Rosenblatt Securities lifted their price target on TeraWulf from $4.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday.

TeraWulf Stock Down 5.6%

Shares of WULF stock opened at $4.02 on Thursday. The stock has a fifty day moving average of $3.34 and a 200 day moving average of $4.44. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -12.18 and a beta of 3.09. TeraWulf has a 52 week low of $2.06 and a 52 week high of $9.30.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The firm had revenue of $34.41 million during the quarter, compared to the consensus estimate of $45.72 million. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities research analysts anticipate that TeraWulf will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in TeraWulf by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company’s stock valued at $13,980,000 after buying an additional 105,997 shares in the last quarter. Soros Fund Management LLC purchased a new position in TeraWulf during the fourth quarter worth $8,632,000. Wellington Management Group LLP raised its holdings in shares of TeraWulf by 1,760.0% in the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock worth $6,671,000 after acquiring an additional 1,115,228 shares during the last quarter. Barclays PLC lifted its position in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after acquiring an additional 343,016 shares in the last quarter. Finally, BIT Capital GmbH lifted its position in shares of TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other 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.