Keefe, Bruyette & Woods Cuts TeraWulf (NASDAQ:WULF) Price Target to $23.00

TeraWulf (NASDAQ:WULF) had its target price cut by Keefe, Bruyette & Woods from $24.00 to $23.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald boosted their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Citigroup restated a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. B. Riley Financial upped their price target on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a report on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.62.

TeraWulf Stock Performance

TeraWulf stock opened at $14.67 on Wednesday. TeraWulf has a twelve month low of $2.06 and a twelve month high of $18.51. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00. The company has a market capitalization of $6.22 billion, a P/E ratio of -9.00 and a beta of 3.67. The stock’s 50 day moving average is $14.72 and its 200 day moving average is $13.29.

Insider Activity

In other TeraWulf news, Director Michael C. Bucella acquired 3,171 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average cost of $15.78 per share, with a total value of $50,038.38. Following the completion of the transaction, the director directly owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. This represents a 1.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 6,594 shares of company stock worth $100,059 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently bought and sold shares of WULF. Spear Advisors LLC bought a new position in TeraWulf during the 4th quarter valued at about $6,625,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of TeraWulf during the 4th quarter valued at about $62,000. Caitong International Asset Management Co. Ltd grew its stake in shares of TeraWulf by 421.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 81,632 shares of the company’s stock worth $938,000 after acquiring an additional 65,986 shares during the period. Hamilton Wealth LLC grew its stake in shares of TeraWulf by 14.1% in the fourth quarter. Hamilton Wealth LLC now owns 15,750 shares of the company’s stock worth $181,000 after acquiring an additional 1,950 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of TeraWulf by 149.8% during the fourth quarter. Invesco Ltd. now owns 3,575,310 shares of the company’s stock valued at $41,080,000 after purchasing an additional 2,144,209 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.