Keefe, Bruyette & Woods Has Lowered Expectations for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $24.00 to $23.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 57.26% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald boosted their target price on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. B. Riley Financial raised their price target on shares of TeraWulf from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of TeraWulf in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.62.

TeraWulf Stock Performance

TeraWulf stock opened at $14.63 on Wednesday. The stock has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $13.25. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -8.97 and a beta of 3.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. TeraWulf has a 12-month low of $2.06 and a 12-month high of $18.51.

Insider Activity at TeraWulf

In other TeraWulf news, Director Michael C. Bucella bought 3,171 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the transaction, the director owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. The trade was a 1.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 5,256 shares of company stock worth $80,109. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after buying an additional 4,800 shares during the period. Advisory Services Network LLC bought a new position in TeraWulf during the third quarter worth about $29,000. Advisors Asset Management Inc. grew its position in shares of TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after buying an additional 2,748 shares during the period. Vermillion Wealth Management Inc. grew its position in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after buying an additional 2,394 shares during the period. Finally, Solstein Capital LLC bought a new stake in shares of TeraWulf in the 4th quarter valued at about $34,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.