Northland Securities Forecasts Strong Price Appreciation for TeraWulf (NASDAQ:WULF) Stock

TeraWulf (NASDAQ:WULF - Get Free Report) had its target price raised by Northland Securities from $8.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Northland Securities' price target would indicate a potential upside of 36.05% from the company's current price.

WULF has been the topic of a number of other research reports. B. Riley reaffirmed a "buy" rating and issued a $6.00 price target on shares of TeraWulf in a report on Monday, October 7th. Needham & Company LLC started coverage on shares of TeraWulf in a report on Wednesday, September 4th. They set a "buy" rating and a $6.00 target price on the stock. Stifel Canada cut shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, October 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Finally, Rosenblatt Securities restated a "buy" rating and set a $5.00 price target on shares of TeraWulf in a research report on Tuesday, October 8th. Seven 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 data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $7.21.

TeraWulf Price Performance

Shares of NASDAQ:WULF traded down $1.18 during midday trading on Wednesday, reaching $7.35. The company had a trading volume of 41,857,900 shares, compared to its average volume of 21,202,949. The business's 50 day moving average price is $5.30 and its 200 day moving average price is $4.31. TeraWulf has a 1-year low of $0.91 and a 1-year high of $9.30.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. As a group, sell-side analysts forecast that TeraWulf will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in TeraWulf by 22.0% in the third quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after acquiring an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL boosted its position in TeraWulf by 6.6% during the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company's stock valued at $136,000 after buying an additional 1,700 shares during the period. Amalgamated Bank boosted its position in 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 buying an additional 2,912 shares during the period. Victory Capital Management Inc. boosted its position in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company's stock valued at $163,000 after buying an additional 4,093 shares during the period. Finally, Aspect Partners LLC purchased a new stake in TeraWulf during the third quarter valued at about $26,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company Profile

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.