Rosenblatt Securities Reiterates Buy Rating for TeraWulf (NASDAQ:WULF)

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

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

TeraWulf Trading Down 4.6%

NASDAQ:WULF opened at $15.30 on Thursday. TeraWulf has a 12 month low of $2.06 and a 12 month high of $18.51. 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 stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of -9.39 and a beta of 3.67. The firm has a fifty day simple moving average of $14.89 and a two-hundred day simple moving average of $13.46.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 3,171 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average cost of $15.78 per share, with a total value of $50,038.38. Following the completion of the transaction, the director directly owned 270,129 shares of the company’s stock, valued at approximately $4,262,635.62. This trade represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 6,594 shares of company stock worth $100,059 over the last 90 days. 19.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in TeraWulf by 265.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,609 shares of the company’s stock valued at $29,000 after purchasing an additional 4,800 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of TeraWulf during the 3rd quarter valued at $29,000. Advisors Asset Management Inc. grew its stake in shares of TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after acquiring an additional 2,748 shares during the period. Vermillion Wealth Management Inc. increased its holdings in TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock worth $30,000 after acquiring an additional 2,394 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in TeraWulf in the 4th quarter valued at about $34,000. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

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.