TeraWulf (NASDAQ:WULF) Downgraded by Stifel Canada to "Moderate Buy"

Stifel Canada lowered shares of TeraWulf (NASDAQ:WULF - Free Report) from a strong-buy rating to a moderate buy rating in a report issued on Tuesday, Zacks.com reports.

Several other research firms have also recently issued reports on WULF. B. Riley reaffirmed a "buy" rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Rosenblatt Securities reissued a "buy" rating and issued a $5.00 target price on shares of TeraWulf in a research report on Tuesday, October 8th. Roth Mkm reissued a "buy" rating and issued a $6.50 target price on shares of TeraWulf in a research report on Monday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 target price on shares of TeraWulf in a research report on Thursday, October 3rd. Finally, Needham & Company LLC started coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a "buy" rating and a $6.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, TeraWulf presently has a consensus rating of "Buy" and a consensus target price of $6.17.

TeraWulf Price Performance

Shares of TeraWulf stock traded down $0.37 during mid-day trading on Tuesday, hitting $6.52. 23,431,250 shares of the stock were exchanged, compared to its average volume of 20,789,764. TeraWulf has a twelve month low of $0.89 and a twelve month high of $7.28. The company has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $3.99.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share (EPS) 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 analyst estimates of $35.73 million. Equities analysts predict that TeraWulf will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aspect Partners LLC acquired a new position in TeraWulf during the third quarter valued at approximately $26,000. Amalgamated Bank raised its stake in shares of TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company's stock valued at $35,000 after purchasing an additional 2,912 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of TeraWulf during the second quarter valued at approximately $44,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of TeraWulf during the second quarter valued at approximately $44,000. Finally, Creative Planning purchased a new stake in shares of TeraWulf during the third quarter valued at approximately $54,000. 62.49% of the stock is 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.