Needham & Company LLC Forecasts Strong Price Appreciation for TeraWulf (NASDAQ:WULF) Stock

TeraWulf (NASDAQ:WULF) had its price target boosted by Needham & Company LLC from $6.00 to $9.50 in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of TeraWulf in a report on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of TeraWulf in a research note on Thursday, October 3rd. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of TeraWulf in a research note on Monday, October 7th. Finally, Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.21.

TeraWulf Stock Down 13.9 %

NASDAQ:WULF opened at $7.35 on Wednesday. The business has a 50 day simple moving average of $5.30 and a 200-day simple moving average of $4.31. TeraWulf has a 1 year low of $0.91 and a 1 year high of $9.30.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative return on equity of 17.02% and a negative net margin of 41.88%. The firm had revenue of $35.57 million for the quarter, compared to analysts’ expectations of $35.73 million. Research analysts anticipate that TeraWulf will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in WULF. FMR LLC lifted its position in shares of TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares during the last quarter. Chesapeake Capital Corp IL lifted its stake in TeraWulf by 6.6% during the 3rd quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after acquiring an additional 1,700 shares during the period. Amalgamated Bank grew its position in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares during the period. Victory Capital Management Inc. raised its position in TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $163,000 after acquiring an additional 4,093 shares in the last quarter. Finally, Aspect Partners LLC purchased a new stake in TeraWulf during the third quarter worth $26,000. 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.