TeraWulf Inc. (NASDAQ:WULF) Given Average Rating of “Buy” by Analysts

TeraWulf Inc. (NASDAQ:WULF) has received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.21.

WULF has been the subject of several analyst reports. Roth Mkm initiated coverage on TeraWulf in a research note on Tuesday. They set a “buy” rating and a $6.50 target price for the company. Rosenblatt Securities initiated coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective on the stock. Cantor Fitzgerald increased their price objective on TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Compass Point dropped their price target on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, Roth Capital raised TeraWulf to a “strong-buy” rating in a report on Tuesday.

Insider Buying and Selling

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 24.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after purchasing an additional 1,372,195 shares during the period. Quadrature Capital Ltd purchased a new position in TeraWulf in the 3rd quarter valued at about $144,000. Swiss National Bank purchased a new position in TeraWulf in the 3rd quarter valued at about $294,000. Axxcess Wealth Management LLC lifted its position in shares of TeraWulf by 356.2% during the third quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after purchasing an additional 780,786 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of TeraWulf during the first quarter worth about $29,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Trading Up 3.2 %

WULF stock opened at $5.21 on Thursday. TeraWulf has a 12-month low of $0.89 and a 12-month high of $5.37. The business’s fifty day moving average price is $3.03 and its 200 day moving average price is $2.41.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $42.43 million during the quarter, compared to analysts’ expectations of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. As a group, equities analysts anticipate that TeraWulf will post -0.09 earnings per share for the current fiscal 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.