Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $7.86

TeraWulf Inc. (NASDAQ:WULF) has earned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.86.

Several brokerages recently issued reports on WULF. Jones Trading started coverage on TeraWulf in a research note on Monday, March 31st. They set a “buy” rating and a $4.00 price objective on the stock. Rosenblatt Securities lowered their price target on TeraWulf from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 12th.

Hedge Funds Weigh In On TeraWulf

Several institutional investors have recently modified their holdings of WULF. CoreCap Advisors LLC lifted its stake in TeraWulf by 67.9% in the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after acquiring an additional 3,054 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in TeraWulf in the 4th quarter valued at $59,000. Edmond DE Rothschild Holding S.A. bought a new stake in TeraWulf in the 1st quarter valued at $29,000. R Squared Ltd acquired a new position in TeraWulf in the 4th quarter valued at $61,000. Finally, Calamos Advisors LLC acquired a new position in TeraWulf in the 1st quarter valued at $33,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $3.92 on Friday. TeraWulf has a 1 year low of $1.96 and a 1 year high of $9.30. The stock has a market capitalization of $1.51 billion, a P/E ratio of -11.88 and a beta of 3.00. The stock has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $4.86.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $45.72 million. The business’s revenue was down 18.9% on a year-over-year basis. Analysts predict that TeraWulf will post -0.17 earnings per share for the current year.

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.