B. Riley Issues Positive Forecast for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF) had its target price increased by B. Riley from $22.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

WULF has been the subject of a number of other research reports. Oppenheimer initiated coverage on TeraWulf in a report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of TeraWulf in a research report on Tuesday. Wall Street Zen cut shares of TeraWulf from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Weiss Ratings restated a “sell (e+)” rating on shares of TeraWulf in a research report on Wednesday, October 8th. Finally, Roth Capital boosted their target price on shares of TeraWulf from $7.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.42.

TeraWulf Stock Performance

WULF stock traded down $0.96 during trading on Wednesday, hitting $11.68. 43,304,108 shares of the company traded hands, compared to its average volume of 44,997,102. TeraWulf has a 1 year low of $2.06 and a 1 year high of $17.05. The company has a market cap of $4.76 billion, a PE ratio of -33.37 and a beta of 3.57. The stock’s 50-day simple moving average is $12.58 and its 200 day simple moving average is $7.71. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.13) EPS 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 firm had revenue of $50.58 million for the quarter, compared to analyst estimates of $56.27 million. The firm’s revenue for the quarter was up 86.9% on a year-over-year basis. On average, equities analysts expect that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. acquired a new stake in TeraWulf during the 1st quarter worth approximately $29,000. Nisa Investment Advisors LLC boosted its holdings in TeraWulf by 135.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,575 shares of the company’s stock valued at $29,000 after purchasing an additional 3,784 shares during the period. Steward Partners Investment Advisory LLC grew its stake in TeraWulf by 265.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock worth $29,000 after purchasing an additional 4,800 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after purchasing an additional 2,748 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake in TeraWulf in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Company Profile

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.