TeraWulf (NASDAQ:WULF) Earns Buy Rating from Needham & Company LLC

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 56.25% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Northland Securities set a $23.25 price objective on TeraWulf in a research note on Wednesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 target price on shares of TeraWulf in a research note on Tuesday, December 23rd. Oppenheimer began coverage on TeraWulf in a report on Tuesday, October 28th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Citizens Jmp upped their price target on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.15.

TeraWulf Stock Up 0.5%

Shares of NASDAQ:WULF opened at $13.44 on Tuesday. The stock has a 50-day simple moving average of $13.56 and a 200-day simple moving average of $11.52. The stock has a market capitalization of $5.63 billion, a P/E ratio of -9.46 and a beta of 3.69. TeraWulf has a 1 year low of $2.06 and a 1 year high of $17.05. The company has a debt-to-equity ratio of 4.45, a quick ratio of 1.03 and a current ratio of 1.03.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.04) by ($1.09). The business had revenue of $50.58 million during the quarter, compared to analysts’ expectations of $56.27 million. TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business’s revenue for the quarter was up 86.9% compared to the same quarter last year. Equities analysts forecast that TeraWulf will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other TeraWulf news, Director Michael C. Bucella acquired 4,178 shares of the stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the purchase, the director directly owned 266,958 shares in the company, valued at $3,206,165.58. This trade represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth approximately $29,000. GPS Wealth Strategies Group LLC boosted its stake in TeraWulf by 366.2% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,590 shares of the company’s stock valued at $41,000 after acquiring an additional 2,820 shares during the last quarter. Activest Wealth Management bought a new position in TeraWulf during the 4th quarter valued at $46,000. Financial Consulate Inc. acquired a new position in TeraWulf during the 3rd quarter worth $57,000. Finally, PNC Financial Services Group Inc. increased its position in shares of TeraWulf by 116.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $61,000 after purchasing an additional 2,874 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.