TeraWulf Inc. (NASDAQ:WULF) Stock Has Average Target Price of $32.52 According to Analysts

Shares of TeraWulf Inc. (NASDAQ:WULF) have been given a consensus recommendation of “Moderate Buy” by the twenty-five research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $32.52.

Several equities analysts have recently weighed in on WULF shares. TD Cowen assumed coverage on TeraWulf in a research report on Monday, October 12th. They issued a “buy” rating and a $21.00 target price on the stock. William Blair assumed coverage on TeraWulf in a research note on Friday, August 28th. They issued an “outperform” rating on the stock. Weiss Ratings upgraded TeraWulf from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. UBS Group initiated coverage on TeraWulf in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Chardan Capital reissued a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a research note on Wednesday, August 5th.

TeraWulf Stock Performance

WULF opened at $12.66 on Friday. TeraWulf has a twelve month low of $10.35 and a twelve month high of $29.84. The company has a 50-day moving average price of $14.87 and a 200 day moving average price of $18.02.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.70). The company had revenue of $44.77 million during the quarter, compared to the consensus estimate of $46.00 million. During the same quarter last year, the firm posted ($0.05) EPS. The company’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts forecast that TeraWulf will post -1.04 EPS for the current fiscal year.

Insider Activity at TeraWulf

In other news, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares in the company, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Bucella bought 6,085 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares in the company, valued at $5,188,169.31. This represents a 1.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 11,968 shares of company stock valued at $189,962. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of TeraWulf during the 2nd quarter valued at approximately $577,805,000. Bank of America Corp DE purchased a new stake in TeraWulf in the second quarter valued at $140,057,000. Jennison Associates LLC purchased a new stake in TeraWulf in the first quarter valued at $53,418,000. Engle Capital Management L.P. lifted its stake in shares of TeraWulf by 574.3% in the 1st quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after purchasing an additional 2,512,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TeraWulf in the 2nd quarter valued at $61,962,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

TeraWulf Inc is a digital asset infrastructure company focused primarily on developing and operating environmentally conscious data centers for bitcoin mining and other high-performance computing applications. The company emphasizes the use of low-carbon energy, including nuclear and hydroelectric power, to support energy-intensive computing operations.

TeraWulf operates mining and data center facilities in the United States, including the Lake Mariner site in New York and the Nautilus Cryptomine facility in Pennsylvania.