TeraWulf Inc. experienced a price decline of 5.04%, crossing below its 20-day SMA, amidst a mixed market backdrop where the Nasdaq-100 rose by 0.37% and the S&P 500 gained 0.17%.
This decline comes despite a recent upgrade from Keefe, Bruyette & Woods, which raised TeraWulf's rating from Market Perform to Outperform and increased the price target from $9.50 to $24. This upgrade reflects strong analyst confidence in the company's future performance, which has led to a positive market reaction, with TeraWulf's stock price previously rising by 2.78% to $11.47. Investors are also anticipating TeraWulf's upcoming earnings report on February 27, 2026, where earnings per share are expected to be -$0.15, down from -$0.08 last year, while revenue is projected to increase from $34.98 million to $44.26 million, indicating growth potential.
The market's mixed performance suggests a sector rotation, as TeraWulf's stock moves in contrast to the broader market gains, highlighting the unique dynamics affecting its valuation and investor sentiment.
Wall Street analysts forecast WULF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WULF is 21.93 USD with a low forecast of 17.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
Wall Street analysts forecast WULF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WULF is 21.93 USD with a low forecast of 17.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 13.790
Low
17.00
Averages
21.93
High
26.00
Current: 13.790
Low
17.00
Averages
21.93
High
26.00
Keefe Bruyette
Market Perform -> Outperform
upgrade
$24
2025-12-31
Reason
Keefe Bruyette
Price Target
$24
AI Analysis
2025-12-31
upgrade
Market Perform -> Outperform
Reason
Keefe Bruyette upgraded TeraWulf to Outperform from Market Perform with a price target of $24, up from $9.50.
Keefe Bruyette
Market Perform -> Outperform
upgrade
$24
2025-12-31
Reason
Keefe Bruyette
Price Target
$24
2025-12-31
upgrade
Market Perform -> Outperform
Reason
Keefe Bruyette upgraded TeraWulf to Outperform from Market Perform with a price target of $24, up from $9.50. The firm believes investors are underestimating the magnitude of TeraWulf's bitcoin mining to high performance compute leasing mix shift in 2026 and 2027. The company's existing leases can drive 505% annual EBITDA growth through 2027 and a "positive inflection" in pre-tax return on invested capital, enabling multiple expansion, the analyst tells investors in a research note. Keefe sees a "compelling risk/reward asymmetry" at current share levels.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for WULF
Unlock Now
Keefe Bruyette
NULL -> Outperform
upgrade
$11.37
2025-12-31
Reason
Keefe Bruyette
Price Target
$11.37
2025-12-31
upgrade
NULL -> Outperform
Reason
TeraWulf up 2% to $11.37 after Keefe Bruyette upgrade to Outperform
Rosenblatt
Buy
maintain
$24 -> $20
2025-12-19
Reason
Rosenblatt
Price Target
$24 -> $20
2025-12-19
maintain
Buy
Reason
Rosenblatt lowered the firm's price target on TeraWulf to $20 from $24 and keeps a Buy rating on the shares. Stubbornly high network competition has been an issue for Bitcoin miners throughout 2025 and the situation has "gone from bad to worse" with the sharp drop in BTC, the analyst tells investors. Although pure play miners will remain under pressure, the impact is limited for high-performance computing plays given "entirely uncorrelated and considerably more profitable HPC hosting opportunities," the analyst added.
About WULF
TeraWulf Inc. is a vertically integrated owner and operator of digital infrastructure. The Company develops and operates data centers for bitcoin mining and high-performance computing (HPC) workloads. The Company facilitates transaction validation of transactions on the global bitcoin network using its fleet of application-specific integrated circuit miners. Its segments include Digital Asset Mining and HPC Leasing. The Digital Asset Mining segment provides hash computation services to a mining pool operator. The HPC Leasing segment provides high-density colocation services to third parties for HPC operations. The Company's primary operations are centered at the Lake Mariner Campus, located on the shores of Lake Ontario. Lake Mariner campus is designed for scalable growth, with the capacity to expand up to 500 megawatts (MW) and 750 MW with certain transmission upgrades. It also specializes in development and operation of power generation assets and related electrical infrastructure.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
