TeraWulf (NASDAQ:WULF) Earns Buy Rating from Rosenblatt Securities

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 50.33% from the stock’s previous close.

WULF has been the topic of several other research reports. Morgan Stanley started coverage on shares of TeraWulf in a research note on Monday, February 9th. They issued an “overweight” rating and a $37.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a report on Monday, December 29th. Keefe, Bruyette & Woods dropped their price objective on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Cantor Fitzgerald raised their target price on shares of TeraWulf from $18.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of TeraWulf in a research note on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.62.

TeraWulf Stock Down 4.6%

Shares of NASDAQ WULF opened at $15.30 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The firm has a market capitalization of $6.49 billion, a PE ratio of -9.39 and a beta of 3.67. The firm’s 50-day moving average is $14.89 and its 200-day moving average is $13.46. TeraWulf has a 1 year low of $2.06 and a 1 year high of $18.51.

Insider Activity at TeraWulf

In other TeraWulf news, Director Michael C. Bucella purchased 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were bought at an average price of $15.78 per share, for a total transaction of $50,038.38. Following the purchase, the director owned 270,129 shares in the company, valued at approximately $4,262,635.62. This trade represents a 1.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 6,594 shares of company stock valued at $100,059. 19.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TeraWulf

Several large investors have recently bought and sold shares of the company. Kraematon Investment Advisors Inc. raised its holdings in TeraWulf by 2.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 42,452 shares of the company’s stock worth $488,000 after purchasing an additional 952 shares during the last quarter. R Squared Ltd raised its stake in TeraWulf by 5.0% during the fourth quarter. R Squared Ltd now owns 22,207 shares of the company’s stock worth $255,000 after buying an additional 1,056 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in TeraWulf by 12.4% in the third quarter. Perigon Wealth Management LLC now owns 11,308 shares of the company’s stock valued at $129,000 after buying an additional 1,250 shares during the period. Franklin Resources Inc. boosted its position in TeraWulf by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 63,005 shares of the company’s stock valued at $724,000 after acquiring an additional 1,259 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in TeraWulf by 10.7% during the third quarter. Rafferty Asset Management LLC now owns 13,325 shares of the company’s stock valued at $152,000 after acquiring an additional 1,293 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.