TeraWulf (NASDAQ:WULF) Receives “Buy” Rating from Rosenblatt Securities

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. Rosenblatt Securities’ price objective points to a potential upside of 54.56% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on WULF. Roth Capital reiterated a “buy” rating and issued a $32.00 price objective on shares of TeraWulf in a report on Friday, April 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their price target on TeraWulf from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Northland Securities set a $30.00 price target on TeraWulf in a research note on Monday, May 4th. Finally, Bank of America assumed coverage on TeraWulf in a report on Monday, June 15th. They set a “buy” rating and a $34.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

TeraWulf Stock Down 7.1%

WULF opened at $19.41 on Wednesday. TeraWulf has a fifty-two week low of $4.64 and a fifty-two week high of $29.84. The business has a 50-day moving average of $24.49 and a 200-day moving average of $18.80. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $9.62 billion, a PE ratio of -7.83 and a beta of 3.73.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The firm had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. Equities research analysts forecast that TeraWulf will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer owned 4,249,202 shares of the company’s stock, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 520,850 shares of company stock valued at $12,221,864. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of TeraWulf by 37.4% during the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock worth $386,558,000 after purchasing an additional 9,162,958 shares during the last quarter. Bank of America Corp DE grew its stake in shares of TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock worth $63,038,000 after acquiring an additional 2,617,617 shares during the last quarter. Morgan Stanley grew its stake in shares of TeraWulf by 8.1% in the fourth quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares during the last quarter. Geode Capital Management LLC increased its position in TeraWulf by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares during the period. Finally, State Street Corp increased its position in TeraWulf by 4.2% during the fourth quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after acquiring an additional 298,645 shares during the period. 62.49% of the stock is owned by institutional investors and hedge funds.

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.