Brokerages Set TeraWulf Inc. (NASDAQ:WULF) Price Target at $20.62

TeraWulf Inc. (NASDAQ:WULF) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.6154.

Several analysts have issued reports on WULF shares. Keefe, Bruyette & Woods lowered their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. 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 report on Friday, February 27th. Rosenblatt Securities upped their target price on shares of TeraWulf from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th.

Insider Activity

In other TeraWulf news, Director Michael C. Bucella bought 3,171 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average cost of $15.78 per share, with a total value of $50,038.38. Following the completion of the transaction, the director owned 270,129 shares in the company, valued at $4,262,635.62. The trade was a 1.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 6,594 shares of company stock worth $100,059 over the last 90 days. 19.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TeraWulf

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at approximately $29,000. Vermillion Wealth Management Inc. boosted its stake 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 valued at $30,000 after buying an additional 2,394 shares during the last quarter. Solstein Capital LLC acquired a new stake in shares of TeraWulf during the fourth quarter worth approximately $34,000. GPS Wealth Strategies Group LLC grew its position in shares of TeraWulf by 366.2% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock worth $41,000 after buying an additional 2,820 shares in the last quarter. Finally, Activest Wealth Management bought a new stake in shares of TeraWulf in the fourth quarter worth $46,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $16.41 on Friday. The company has a market cap of $6.96 billion, a P/E ratio of -10.07 and a beta of 3.66. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. TeraWulf has a one year low of $2.06 and a one year high of $18.51. The business’s 50-day simple moving average is $14.78 and its 200 day simple moving average is $13.40.

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.