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Investing.com - Citizens maintained its Market Outperform rating and $22.00 price target on TeraWulf Inc. (NASDAQ:WULF) following the company’s third-quarter 2025 earnings report released Tuesday.
The research firm noted that TeraWulf’s quarterly results highlighted significant activity over the past 90 days, though this information had been previously disclosed to the public.
Citizens emphasized that TeraWulf has transformed from a "highly-speculative operation" to a company with "a line of sight to rapidly exhausting the capacity of its two initial sites," crediting this evolution to new anchor tenant customers that have established the company’s credibility.
The firm expects TeraWulf to leverage its strengthened position to attract additional customers, accelerate capacity expansion, and drive sustained growth across its high-performance computing business segment.
The $22 price target represents approximately 10 times the company’s estimated enterprise value to EBITDA ratio for 2027.
In other recent news, TeraWulf Inc. reported its third-quarter 2025 earnings, which showed a larger-than-expected loss. The company announced an earnings per share (EPS) of -$1.13, significantly missing the forecasted -$0.05. This earnings report highlights the challenges TeraWulf is currently facing in aligning its financial performance with market expectations. Despite the earnings miss, TeraWulf’s stock experienced a 3.8% increase in after-hours trading, driven by positive market sentiment and strategic developments within the company. The market’s reaction suggests that investors may be optimistic about the company’s future prospects or strategic direction. These developments come amid a backdrop of broader market conditions and company-specific strategies. Investors will likely continue to monitor TeraWulf’s financial performance closely in the coming quarters.
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