TeraWulf (NASDAQ:WULF) Coverage Initiated at Jones Trading

Stock analysts at Jones Trading began coverage on shares of TeraWulf (NASDAQ:WULF) in a research report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $4.00 price target on the stock. Jones Trading’s target price indicates a potential upside of 47.06% from the stock’s current price.

A number of other research firms have also recently issued reports on WULF. Northland Securities restated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a report on Tuesday, December 24th. Keefe, Bruyette & Woods started coverage on TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.50 price target on shares of TeraWulf in a research report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of TeraWulf in a research report on Monday, January 6th. Finally, Atb Cap Markets raised shares of TeraWulf to a “strong-buy” rating in a research report on Sunday, January 5th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.71.

TeraWulf Stock Performance

Shares of WULF stock opened at $2.72 on Monday. The stock’s 50 day simple moving average is $4.23 and its 200 day simple moving average is $5.44. TeraWulf has a twelve month low of $1.82 and a twelve month high of $9.30. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -13.60 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. TeraWulf’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, analysts forecast that TeraWulf will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton acquired a new position in TeraWulf during the fourth quarter worth $32,000. FMR LLC lifted its stake 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 acquiring an additional 1,408 shares during the period. CoreCap Advisors LLC boosted its stake in shares of 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 purchasing an additional 3,054 shares during the last quarter. Stifel Financial Corp bought a new position in TeraWulf in the third quarter valued at approximately $47,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of TeraWulf during the third quarter worth $47,000. Institutional investors and hedge funds 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.