TeraWulf (NASDAQ:WULF) Given Buy Rating at Needham & Company LLC

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 56.25% from the stock’s current price.

A number of other brokerages have also recently weighed in on WULF. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 29th. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a research report on Tuesday, November 11th. JMP Securities set a $22.00 price target on TeraWulf in a report on Wednesday, October 29th. UBS Group set a $18.25 price objective on TeraWulf in a research note on Friday, October 24th. Finally, Oppenheimer began coverage on shares of TeraWulf in a research note on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

TeraWulf Trading Up 0.5%

NASDAQ:WULF opened at $13.44 on Tuesday. TeraWulf has a 52-week low of $2.06 and a 52-week high of $17.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 4.45. The stock has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $11.52. The company has a market capitalization of $5.63 billion, a PE ratio of -9.46 and a beta of 3.69.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business had revenue of $50.58 million for the quarter, compared to analysts’ expectations of $56.27 million. The business’s quarterly revenue was up 86.9% on a year-over-year basis. On average, equities research analysts expect that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, Director Michael C. Bucella purchased 4,178 shares of the stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the acquisition, the director directly owned 266,958 shares of the company’s stock, valued at $3,206,165.58. This represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 19.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of TeraWulf in the 3rd quarter valued at $69,006,000. Wellington Management Group LLP grew its stake in shares of TeraWulf by 36,193.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares during the period. Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after buying an additional 2,617,617 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of TeraWulf during the 3rd quarter worth $27,220,000. 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.