TeraWulf (NASDAQ:WULF) Now Covered by Needham & Company LLC

Needham & Company LLC began coverage on shares of TeraWulf (NASDAQ:WULF) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

A number of other research firms have also commented on WULF. B. Riley reaffirmed a buy rating and issued a $6.00 price objective on shares of TeraWulf in a research note on Monday, August 26th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, September 3rd. Roth Capital raised shares of TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Roth Mkm reaffirmed a buy rating and set a $6.50 price target on shares of TeraWulf in a research report on Monday, July 8th. Finally, Rosenblatt Securities lifted their price objective on TeraWulf from $4.20 to $5.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $5.71.

TeraWulf Price Performance

WULF opened at $3.73 on Wednesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51. The company’s 50 day moving average price is $4.56 and its two-hundred day moving average price is $3.24.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. Equities research analysts predict that TeraWulf will post -0.1 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently modified their holdings of WULF. Amalgamated Bank raised its holdings in TeraWulf by 57.7% during the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after buying an additional 2,912 shares during the last quarter. ARS Investment Partners LLC acquired a new stake in shares of TeraWulf in the 2nd quarter worth about $44,000. Pekin Hardy Strauss Inc. bought a new position in TeraWulf in the 2nd quarter valued at about $44,000. Miracle Mile Advisors LLC acquired a new position in TeraWulf during the 1st quarter valued at about $29,000. Finally, Apollon Wealth Management LLC bought a new stake in TeraWulf during the 4th quarter worth approximately $27,000. 62.49% of the stock is currently owned by institutional investors.

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.