By Sheryar Siddiq

TeraWulf Inc. (NASDAQ:WULF) ranks among the best short-squeeze stocks to invest in. On May 14, Jefferies began coverage on TeraWulf Inc. (NASDAQ:WULF) with a Buy rating and a price target of $28. The firm characterizes TeraWulf Inc. (NASDAQ:WULF) as a power-focused digital infrastructure operator with a scalable strategy to acquire brownfield industrial sites with reliable power and transmission networks and transform them into AI data centers.

Meanwhile, on May 11, Needham boosted TeraWulf Inc. (NASDAQ:WULF)’s price target to $28 from $22, retaining a Buy rating on the company’s shares. The firm mentioned the company’s first-quarter revenue of $34 million, which was consistent with Needham’s $35 million projection.

Revenue increased 117% quarter-over-quarter to $21 million from HPC lease revenue, which was largely offset by a 50% quarter-over-quarter decrease in mining revenue to $13 million. However, the adjusted EBITDA of negative $4.1 million fell short of both Needham’s $2.5 million projection and management’s previously indicated number of $0 to $3 million.

TeraWulf Inc. (NASDAQ:WULF) operates and owns data center infrastructure specifically designed for HPC and Bitcoin mining. It uses environmentally sustainable and zero-carbon energy sources, such as hydroelectric and nuclear power, to power its Bitcoin mining and other operations.

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Source: Insider Monkey