TeraWulf (NASDAQ:WULF) Stock Price Expected to Rise, B. Riley Analyst Says

TeraWulf (NASDAQ:WULF) had its price target lifted by investment analysts at B. Riley from $22.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 82.47% from the company’s previous close.

Several other research firms also recently weighed in on WULF. Citizens Jmp raised their price target on TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. JMP Securities set a $22.00 price target on shares of TeraWulf in a research note on Wednesday, October 29th. UBS Group set a $18.25 price objective on shares of TeraWulf in a research note on Friday, October 24th. Citigroup reaffirmed a “market outperform” rating on shares of TeraWulf in a research note on Tuesday. Finally, Compass Point set a $17.00 price target on TeraWulf and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TeraWulf presently has an average rating of “Moderate Buy” and a consensus target price of $18.42.

TeraWulf Stock Performance

WULF traded up $0.24 during trading on Wednesday, reaching $12.61. The company’s stock had a trading volume of 23,475,812 shares, compared to its average volume of 44,895,184. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.66 and a current ratio of 0.66. The company’s fifty day moving average price is $12.51 and its 200-day moving average price is $7.68. TeraWulf has a 52-week low of $2.06 and a 52-week high of $17.05. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -35.97 and a beta of 3.57.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.09). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%.The business had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. The firm’s revenue was up 86.9% compared to the same quarter last year. On average, equities analysts forecast that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amanda Fabiano sold 4,600 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $8.64, for a total value of $39,744.00. Following the transaction, the director directly owned 40,769 shares in the company, valued at $352,244.16. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently bought and sold shares of WULF. Perigon Wealth Management LLC boosted its position in shares of TeraWulf by 12.4% in the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock worth $129,000 after buying an additional 1,250 shares during the period. Xponance Inc. boosted its position in TeraWulf by 7.3% in the 3rd quarter. Xponance Inc. now owns 22,215 shares of the company’s stock valued at $254,000 after buying an additional 1,503 shares during the last quarter. Sei Investments Co. grew its stake in shares of TeraWulf by 5.2% during the second quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock valued at $164,000 after acquiring an additional 1,869 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of TeraWulf by 20.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,262 shares of the company’s stock worth $151,000 after acquiring an additional 2,206 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after acquiring an additional 2,258 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other 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.