TeraWulf (NASDAQ:WULF) Raised to Outperform at Keefe, Bruyette & Woods

TeraWulf (NASDAQ:WULF) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $24.00 target price on the stock, up from their prior target price of $9.50. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 108.88% from the company’s previous close.

A number of other research firms have also weighed in on WULF. Wall Street Zen lowered TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. UBS Group set a $18.25 price target on TeraWulf in a research report on Friday, October 24th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Monday. Finally, Northland Securities set a $23.25 target price on shares of TeraWulf in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.15.

TeraWulf Stock Up 3.0%

TeraWulf stock opened at $11.49 on Wednesday. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -8.09 and a beta of 3.69. The firm’s fifty day moving average price is $13.45 and its two-hundred day moving average price is $10.03. TeraWulf has a 1-year low of $2.06 and a 1-year high of $17.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). The business had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. TeraWulf had a negative return on equity of 69.75% and a negative net margin of 336.53%.The business’s revenue was up 86.9% on a year-over-year basis. On average, equities research analysts predict that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Insider Activity at TeraWulf

In related news, Director Michael C. Bucella purchased 4,178 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average price of $12.01 per share, with a total value of $50,177.78. Following the acquisition, the director owned 266,958 shares of the company’s stock, valued at $3,206,165.58. This trade represents a 1.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds have recently made changes to their positions in the company. Value Aligned Research Advisors LLC purchased a new position in shares of TeraWulf during the 3rd quarter valued at $12,984,000. Strategic Investment Solutions Inc. IL purchased a new stake in TeraWulf during the third quarter valued at about $673,000. IFP Advisors Inc bought a new position in TeraWulf during the third quarter worth about $116,000. Swiss Life Asset Management Ltd bought a new position in TeraWulf during the third quarter worth about $167,000. Finally, Steadtrust LLC purchased a new position in shares of TeraWulf in the third quarter worth about $166,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.