TeraWulf (NASDAQ:WULF) Hits New 1-Year High Following Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF - Get Free Report)'s stock price reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $6.00 to $9.50. Needham & Company LLC currently has a buy rating on the stock. TeraWulf traded as high as $9.30 and last traded at $8.52, with a volume of 9348025 shares changing hands. The stock had previously closed at $8.53.

WULF has been the subject of several other research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Northland Securities lifted their price target on shares of TeraWulf from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday. Stifel Canada downgraded shares of TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, October 29th. B. Riley reissued a "buy" rating and issued a $6.00 price target on shares of TeraWulf in a research report on Monday, October 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price target on shares of TeraWulf in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $7.21.

Institutional Trading of TeraWulf

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company's stock valued at $30,830,000 after acquiring an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC boosted its holdings in TeraWulf by 260.8% in the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company's stock valued at $860,000 after acquiring an additional 139,722 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in TeraWulf by 97.8% in the second quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company's stock valued at $3,757,000 after acquiring an additional 417,369 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in TeraWulf in the second quarter valued at $1,095,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in TeraWulf by 43.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 656,520 shares of the company's stock valued at $3,073,000 after acquiring an additional 199,345 shares in the last quarter. Institutional investors own 62.49% of the company's stock.

TeraWulf Stock Down 13.9 %

The firm's fifty day moving average is $5.30 and its two-hundred day moving average is $4.31.

TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 17.02%. On average, equities analysts expect that TeraWulf Inc. will post -0.1 EPS for the current year.

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.