TeraWulf (NASDAQ:WULF) Upgraded by Keefe, Bruyette & Woods to “Strong-Buy” Rating

Keefe, Bruyette & Woods upgraded shares of TeraWulf (NASDAQ:WULF) from a moderate buy rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

WULF has been the subject of several other reports. Cantor Fitzgerald increased their price objective on shares of TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a report on Tuesday, February 3rd. Morgan Stanley started coverage on TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.69.

TeraWulf Stock Performance

Shares of WULF stock opened at $14.74 on Monday. The stock has a market capitalization of $6.25 billion, a PE ratio of -9.04 and a beta of 3.67. The business’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $13.04. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.03 and a quick ratio of 1.03. TeraWulf has a one year low of $2.06 and a one year high of $18.51.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WULF. First Dallas Securities Inc. raised its holdings in TeraWulf by 126.5% during the second quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock worth $580,000 after buying an additional 74,000 shares during the last quarter. Thames Capital Management LLC acquired a new position in shares of TeraWulf during the second quarter valued at about $4,970,000. Two Seas Capital LP increased its position in shares of TeraWulf by 966.9% during the second quarter. Two Seas Capital LP now owns 2,287,100 shares of the company’s stock worth $10,017,000 after acquiring an additional 2,072,729 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of TeraWulf by 27.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,507,973 shares of the company’s stock worth $17,221,000 after acquiring an additional 325,148 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of TeraWulf by 420.6% in the 3rd quarter. Voya Investment Management LLC now owns 375,754 shares of the company’s stock worth $4,291,000 after acquiring an additional 303,583 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.

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.