TeraWulf’s (WULF) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of TeraWulf (NASDAQ:WULF) in a report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $30.00 target price on the stock.

WULF has been the topic of a number of other research reports. Needham & Company LLC increased their price target on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Oppenheimer restated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a report on Wednesday, May 27th. Cantor Fitzgerald upped their price objective on TeraWulf from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Compass Point set a $40.00 price objective on TeraWulf in a research report on Monday, July 6th. Finally, Arete Research assumed coverage on TeraWulf in a research note on Monday, March 23rd. They issued a “buy” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

TeraWulf Stock Performance

Shares of TeraWulf stock opened at $18.16 on Wednesday. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of -7.32 and a beta of 3.73. The firm’s 50-day moving average is $24.14 and its 200 day moving average is $18.89. TeraWulf has a 1 year low of $4.64 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. Sell-side analysts anticipate 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 137,500 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the transaction, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 520,850 shares of company stock worth $12,221,864 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. Vanguard Group Inc. lifted its position in shares of TeraWulf by 37.4% in the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of TeraWulf by 45.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 140,101 shares of the company’s stock worth $1,610,000 after acquiring an additional 43,574 shares during the period. Pictet Asset Management Holding SA grew its position in shares of TeraWulf by 178.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 151,005 shares of the company’s stock worth $1,735,000 after purchasing an additional 96,843 shares in the last quarter. GeoSphere Capital Management LLC purchased a new stake in shares of TeraWulf during the fourth quarter worth about $2,872,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in TeraWulf during the 4th quarter valued at approximately $600,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.