TeraWulf (NASDAQ:WULF) Stock Price Target Cut by Needham & Company LLC

TeraWulf (NASDAQ:WULF) had its target price dropped by investment analysts at Needham & Company LLC from $33.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s target price points to a potential upside of 119.88% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Northland Securities set a $22.50 price target on TeraWulf in a research note on Friday. Wells Fargo & Company started coverage on shares of TeraWulf in a research report on Thursday, September 17th. They set an “overweight” rating and a $30.00 price target for the company. Morgan Stanley boosted their price objective on shares of TeraWulf from $62.50 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Rothschild & Co Redburn initiated coverage on shares of TeraWulf in a report on Monday, September 21st. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, Freedom Capital raised shares of TeraWulf to a “strong-buy” rating in a research note on Tuesday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.27.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $11.37 on Monday. The company’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $17.95. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -3.48 and a beta of 4.00. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75. TeraWulf has a 1 year low of $9.51 and a 1 year high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Friday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. TeraWulf had a negative net margin of 410.92% and a positive return on equity of 336.44%. The business had revenue of $76.23 million during the quarter, compared to the consensus estimate of $62.49 million. During the same period in the previous year, the business earned ($1.13) earnings per share. The company’s revenue was up 50.7% on a year-over-year basis. As a group, research analysts predict that TeraWulf will post -1.09 EPS for the current fiscal year.

Insider Transactions at TeraWulf

In other news, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael C. Bucella acquired 6,085 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the transaction, the director directly owned 350,789 shares of the company’s stock, valued at $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 11,968 shares of company stock valued at $189,962 in the last quarter. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in TeraWulf during the 2nd quarter valued at about $577,805,000. Bank of America Corp DE purchased a new stake in shares of TeraWulf during the 2nd quarter valued at about $140,057,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TeraWulf in the second quarter worth approximately $61,962,000. Jennison Associates LLC bought a new stake in shares of TeraWulf in the first quarter worth approximately $53,418,000. Finally, Engle Capital Management L.P. grew its stake in shares of TeraWulf by 574.3% in the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after acquiring an additional 2,512,600 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

About TeraWulf

TeraWulf, Inc develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing.

Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

Founded in 2021, TeraWulf was co-founded by Paul Prager, who serves as the company’s chief executive officer.