Rosenblatt Securities Reaffirms “Buy” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $27.00 price objective on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 15.43% from the company’s previous close.

WULF has been the topic of a number of other reports. Cantor Fitzgerald raised their target price on TeraWulf from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Citigroup reiterated an “outperform” rating on shares of TeraWulf in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a research note on Wednesday, April 15th. Roth Mkm restated a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Twelve 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

TeraWulf Stock Performance

WULF stock opened at $23.39 on Monday. The company has a debt-to-equity ratio of 33.00, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of -9.43 and a beta of 3.84. TeraWulf has a 1 year low of $2.89 and a 1 year high of $25.76. The stock’s fifty day moving average is $17.54 and its two-hundred day moving average is $15.15.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company 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 196.13%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.16) earnings per share. On average, research analysts predict that TeraWulf will post -0.49 EPS for the current year.

Insider Activity at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 79,200 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $20.62, for a total value of $1,633,104.00. Following the sale, the chief executive officer directly owned 884,320 shares in the company, valued at approximately $18,234,678.40. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patrick Fleury sold 26,414 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total transaction of $426,321.96. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 13,094 shares of company stock worth $200,392 and have sold 954,200 shares worth $16,390,854. 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 bought and sold shares of WULF. Advisory Services Network LLC bought a new stake in TeraWulf in the third quarter worth about $29,000. Vermillion Wealth Management Inc. raised its position in TeraWulf by 1,191.0% in the fourth 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 in the last quarter. Solstein Capital LLC bought a new stake in TeraWulf in the fourth quarter worth about $34,000. Comerica Bank raised its position in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after acquiring an additional 12,370 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in TeraWulf in the first quarter worth about $37,000. 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.