TeraWulf (NASDAQ:WULF) Cut to Moderate Buy at Stifel Canada

Stifel Canada lowered shares of TeraWulf (NASDAQ:WULF) from a strong-buy rating to a moderate buy rating in a research note published on Tuesday, Zacks.com reports.

A number of other equities research analysts have also recently weighed in on WULF. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, October 7th. Roth Mkm reissued a “buy” rating and set a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Finally, Needham & Company LLC started coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price target on the stock. Six 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 stock currently has a consensus rating of “Buy” and an average target price of $6.17.

TeraWulf Trading Down 5.4 %

Shares of TeraWulf stock opened at $6.52 on Tuesday. The company’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $3.99. TeraWulf has a 1-year low of $0.89 and a 1-year high of $7.28.

TeraWulf (NASDAQ:WULF) last posted 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 analysts’ expectations of $35.73 million. TeraWulf had a negative return on equity of 19.77% and a negative net margin of 41.67%. As a group, research analysts predict that TeraWulf will post -0.1 EPS for the current year.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aspect Partners LLC purchased a new stake in TeraWulf during the 3rd quarter worth $26,000. Amalgamated Bank grew its position in TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares in the last quarter. ARS Investment Partners LLC acquired a new stake in TeraWulf in the second quarter worth approximately $44,000. Pekin Hardy Strauss Inc. bought a new position in shares of TeraWulf during the 2nd quarter valued at about $44,000. Finally, Creative Planning bought a new stake in shares of TeraWulf during the 3rd quarter worth $54,000. Hedge funds and other institutional investors 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.