Stifel Canada Downgrades TeraWulf (NASDAQ:WULF) to Moderate Buy

Stifel Canada downgraded shares of TeraWulf (NASDAQ:WULF) from a strong-buy rating to a moderate buy rating in a research note released on Tuesday morning, Zacks.com reports.

Several other research firms have also recently issued reports on WULF. Roth Mkm reaffirmed a “buy” rating and issued a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Needham & Company LLC began coverage on TeraWulf in a report on Wednesday, September 4th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of TeraWulf in a report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf currently has a consensus rating of “Buy” and an average price target of $6.17.

TeraWulf Price Performance

NASDAQ:WULF opened at $6.89 on Tuesday. TeraWulf has a 1-year low of $0.89 and a 1-year high of $7.28. The firm has a 50-day moving average of $4.77 and a two-hundred day moving average of $3.98.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million during the quarter, compared to analysts’ expectations of $35.73 million. On average, research analysts expect that TeraWulf will post -0.1 EPS for the current year.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the period. SG Americas Securities LLC grew its position in shares of TeraWulf by 260.8% during the second quarter. SG Americas Securities LLC now owns 193,304 shares of the company’s stock worth $860,000 after acquiring an additional 139,722 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TeraWulf by 97.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 844,292 shares of the company’s stock worth $3,757,000 after acquiring an additional 417,369 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new stake in TeraWulf in the 2nd quarter valued at about $1,095,000. Finally, Scientech Research LLC acquired a new position in TeraWulf during the 2nd quarter valued at about $1,040,000. 62.49% of the stock is owned by institutional investors.

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.