TeraWulf Inc. (NASDAQ:WULF) Receives $5.71 Average Target Price from Analysts

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) has been assigned an average recommendation of "Buy" from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.71.

A number of analysts recently commented on WULF shares. Rosenblatt Securities boosted their target price on shares of TeraWulf from $4.20 to $5.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of TeraWulf in a research note on Thursday. B. Riley reiterated a "buy" rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, August 26th. Roth Capital raised TeraWulf to a "strong-buy" rating in a research report on Tuesday, July 2nd. Finally, Roth Mkm reiterated a "buy" rating and set a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th.

TeraWulf Trading Down 6.6 %

Shares of WULF traded down $0.31 during mid-day trading on Friday, reaching $4.40. 27,288,541 shares of the company's stock were exchanged, compared to its average volume of 19,977,979. TeraWulf has a 52-week low of $0.89 and a 52-week high of $6.51. The company has a 50-day simple moving average of $4.24 and a two-hundred day simple moving average of $3.59.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The company had revenue of $35.57 million for the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. Equities analysts forecast that TeraWulf will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company's stock worth $35,000 after purchasing an additional 2,912 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of TeraWulf by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company's stock valued at $119,000 after acquiring an additional 6,450 shares in the last quarter. ARS Investment Partners LLC acquired a new position in shares of TeraWulf during the 2nd quarter valued at $44,000. Pekin Hardy Strauss Inc. purchased a new stake in TeraWulf during the 2nd quarter worth $44,000. Finally, Miracle Mile Advisors LLC acquired a new stake in TeraWulf in the 1st quarter valued at $29,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.