Needham & Company LLC Issues Positive Forecast for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF) had its target price increased by analysts at Needham & Company LLC from $22.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 19.71% from the company’s current price.

Several other research firms have also recently issued reports on WULF. Keefe, Bruyette & Woods lowered their target price on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Citigroup reiterated an “outperform” rating on shares of TeraWulf in a research note on Thursday. Arete Research initiated coverage on shares of TeraWulf in a research report on Monday, March 23rd. They set a “buy” rating and a $30.00 price objective on the stock. Oppenheimer raised their price objective on shares of TeraWulf from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TeraWulf in a research report on Friday, March 27th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

TeraWulf Stock Performance

NASDAQ WULF opened at $23.39 on Monday. TeraWulf has a 1 year low of $2.89 and a 1 year high of $25.76. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $10.18 billion, a PE ratio of -9.43 and a beta of 3.84. The company’s 50 day simple moving average is $17.54 and its two-hundred day simple moving average is $15.15.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). TeraWulf had a negative return on equity of 196.13% and a negative net margin of 611.46%.The firm had revenue of $34.01 million during the quarter, compared to analysts’ expectations of $34.69 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that TeraWulf will post -0.49 earnings per share for the current fiscal year.

Insider Activity

In other TeraWulf news, Director Michael C. Bucella bought 1,665 shares of TeraWulf stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $15.04 per share, with a total value of $25,041.60. Following the acquisition, the director owned 280,052 shares in the company, valued at approximately $4,211,982.08. This trade represents a 0.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick Fleury sold 26,414 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total transaction of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of TeraWulf by 282.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,539 shares of the company’s stock valued at $426,000 after purchasing an additional 21,817 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of TeraWulf during the 1st quarter valued at $1,491,000. Next Capital Management LLC grew its holdings in shares of TeraWulf by 54.7% during the 1st quarter. Next Capital Management LLC now owns 16,280 shares of the company’s stock valued at $235,000 after purchasing an additional 5,755 shares during the last quarter. Little House Capital LLC grew its holdings in shares of TeraWulf by 10.0% during the 1st quarter. Little House Capital LLC now owns 22,000 shares of the company’s stock valued at $317,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of TeraWulf by 2.6% during the 1st quarter. Swiss National Bank now owns 622,100 shares of the company’s stock valued at $8,977,000 after purchasing an additional 15,600 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

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.