TeraWulf (NASDAQ:WULF) Stock Price Expected to Rise, B. Riley Analyst Says

TeraWulf (NASDAQ:WULF) had its price target lifted by investment analysts at B. Riley from $22.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 82.47% from the company’s previous close.

Several other research firms have also issued reports on WULF. Roth Capital upped their price target on TeraWulf from $7.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, August 15th. Wall Street Zen cut shares of TeraWulf from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Cantor Fitzgerald increased their price target on TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Rosenblatt Securities restated a “buy” rating and set a $24.00 price objective on shares of TeraWulf in a research note on Tuesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of TeraWulf in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

TeraWulf Stock Up 1.9%

Shares of WULF traded up $0.24 during midday trading on Wednesday, hitting $12.61. The company had a trading volume of 23,475,812 shares, compared to its average volume of 44,895,184. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -35.97 and a beta of 3.57. The company’s 50 day moving average price is $12.51 and its 200 day moving average price is $7.68. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.96. TeraWulf has a 52 week low of $2.06 and a 52 week high of $17.05.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The firm had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. The company’s revenue for the quarter was up 86.9% compared to the same quarter last year. On average, equities research analysts predict that TeraWulf will post -0.17 EPS for the current year.

Insider Buying and Selling

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total value of $39,744.00. Following the completion of the sale, the director directly owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC lifted its position in shares of 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. Financial Consulate Inc. purchased a new stake in TeraWulf during the third quarter valued at about $57,000. PNC Financial Services Group Inc. boosted its holdings in shares of TeraWulf by 116.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,346 shares of the company’s stock worth $61,000 after buying an additional 2,874 shares during the period. Nisa Investment Advisors LLC increased its position in shares of TeraWulf by 135.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock worth $29,000 after acquiring an additional 3,784 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of TeraWulf by 265.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after acquiring an additional 4,800 shares during the period. Institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

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.