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

TeraWulf (NASDAQ:WULF) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on WULF. Citigroup reissued a “market outperform” rating on shares of TeraWulf in a report on Tuesday, November 11th. Morgan Stanley began coverage on TeraWulf in a research report on Monday, February 9th. They issued an “overweight” rating and a $37.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Cantor Fitzgerald raised their target price on TeraWulf from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of TeraWulf in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.69.

TeraWulf Price Performance

WULF opened at $14.74 on Monday. The firm has a 50-day moving average price of $14.26 and a 200-day moving average price of $13.04. TeraWulf has a twelve month low of $2.06 and a twelve month high of $18.51. 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 company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -9.04 and a beta of 3.67.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Voloridge Investment Management LLC purchased a new position in TeraWulf in the 3rd quarter worth approximately $69,006,000. Wellington Management Group LLP increased its holdings in shares of TeraWulf by 36,193.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock worth $44,559,000 after buying an additional 3,891,127 shares during the last quarter. Marshall Wace LLP raised its position in shares of TeraWulf by 574.2% during the 4th quarter. Marshall Wace LLP now owns 3,186,200 shares of the company’s stock valued at $36,609,000 after buying an additional 2,713,587 shares in the last quarter. Finally, Bank of America Corp DE raised its position 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 in 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.