TeraWulf (NASDAQ:WULF) Upgraded by Citizens Jmp to “Strong-Buy” Rating

TeraWulf (NASDAQ:WULF) was upgraded by equities researchers at Citizens Jmp to a “strong-buy” rating in a research report issued on Thursday, Marketbeat reports. The firm presently has a $7.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 71.15% from the company’s current price.

A number of other analysts have also weighed in on WULF. Jones Trading initiated coverage on shares of TeraWulf in a research note on Monday, March 31st. They set a “buy” rating and a $4.00 target price on the stock. Rosenblatt Securities lowered their price target on shares of TeraWulf from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.67.

TeraWulf Trading Up 4.6%

TeraWulf stock opened at $4.09 on Thursday. TeraWulf has a twelve month low of $1.96 and a twelve month high of $9.30. The stock’s fifty day simple moving average is $2.98 and its 200-day simple moving average is $4.84. The firm has a market capitalization of $1.57 billion, a P/E ratio of -12.39 and a beta of 3.00.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company had revenue of $34.41 million for the quarter, compared to analyst estimates of $45.72 million. TeraWulf’s revenue for the quarter was down 18.9% on a year-over-year basis. Sell-side analysts predict that TeraWulf will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp raised its holdings in TeraWulf by 5.0% during the fourth quarter. Truist Financial Corp now owns 52,500 shares of the company’s stock worth $297,000 after purchasing an additional 2,500 shares in the last quarter. CoreCap Advisors LLC grew its position 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 buying an additional 3,054 shares during the last quarter. Xponance Inc. raised its stake in TeraWulf by 22.7% during the 4th quarter. Xponance Inc. now owns 19,156 shares of the company’s stock worth $108,000 after acquiring an additional 3,545 shares in the last quarter. Voya Investment Management LLC raised its stake in TeraWulf by 4.8% during the 4th quarter. Voya Investment Management LLC now owns 78,815 shares of the company’s stock worth $446,000 after acquiring an additional 3,628 shares in the last quarter. Finally, KBC Group NV lifted its position in TeraWulf by 49.3% in the fourth quarter. KBC Group NV now owns 12,349 shares of the company’s stock valued at $70,000 after acquiring an additional 4,077 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.