TeraWulf (NASDAQ:WULF) Downgraded to “Moderate Buy” Rating by Stifel Canada

TeraWulf (NASDAQ:WULF) was downgraded by equities researchers at Stifel Canada from a “strong-buy” rating to a “moderate buy” rating in a research report issued on Tuesday, Zacks.com reports.

WULF has been the topic of several other reports. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a report on Monday, October 7th. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Needham & Company LLC assumed coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 target price for the company. 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, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of TeraWulf in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.17.

TeraWulf Stock Performance

Shares of NASDAQ WULF opened at $6.89 on Tuesday. The firm has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $3.98. TeraWulf has a 52-week low of $0.89 and a 52-week high of $7.28.

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%. On average, equities analysts forecast that TeraWulf will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently modified their holdings of the company. Amalgamated Bank increased its stake in TeraWulf by 57.7% during the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares in the last quarter. Aspect Partners LLC acquired a new position in shares of TeraWulf during the third quarter valued at about $26,000. Price T Rowe Associates Inc. MD increased its position in shares of TeraWulf by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after acquiring an additional 6,450 shares in the last quarter. Sippican Capital Advisors raised its holdings in shares of TeraWulf by 31.2% in the 3rd quarter. Sippican Capital Advisors now owns 27,150 shares of the company’s stock worth $127,000 after acquiring an additional 6,450 shares during the last quarter. Finally, ARS Investment Partners LLC bought a new position in TeraWulf in the 2nd quarter valued at about $44,000. 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.