TeraWulf (NASDAQ:WULF) Earns Buy Rating from Analysts at Jones Trading

Jones Trading started coverage on shares of TeraWulf (NASDAQ:WULF) in a research report report published on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $4.00 target price on the stock.

WULF has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and a consensus target price of $8.71.

TeraWulf Stock Up 3.5 %

Shares of WULF stock opened at $2.98 on Monday. TeraWulf has a 12-month low of $1.82 and a 12-month high of $9.30. The firm has a fifty day moving average of $4.03 and a 200-day moving average of $5.40. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -14.90 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. Research analysts expect that TeraWulf will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WULF. Wellington Management Group LLP grew its stake in shares of TeraWulf by 1,760.0% in the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock valued at $6,671,000 after buying an additional 1,115,228 shares in the last quarter. California State Teachers Retirement System lifted its stake in TeraWulf by 13.3% in the fourth quarter. California State Teachers Retirement System now owns 266,955 shares of the company’s stock valued at $1,511,000 after acquiring an additional 31,236 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of TeraWulf by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 682,348 shares of the company’s stock valued at $3,862,000 after acquiring an additional 25,828 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of TeraWulf during the 4th quarter worth about $7,591,000. Finally, Forum Financial Management LP bought a new stake in shares of TeraWulf in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.