Roth Capital Upgrades TeraWulf (NASDAQ:WULF) to “Strong-Buy”

TeraWulf (NASDAQ:WULF) was upgraded by Roth Capital to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other equities research analysts have also recently commented on WULF. Rosenblatt Securities began coverage on TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. B. Riley increased their price objective on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Cantor Fitzgerald boosted their target price on shares of TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Compass Point reduced their target price on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Roth Mkm began coverage on shares of TeraWulf in a report on Tuesday. They set a “buy” rating and a $6.50 price target for the company. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.21.

TeraWulf Price Performance

TeraWulf stock opened at $5.21 on Tuesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $5.37. The stock’s fifty day moving average is $3.03 and its two-hundred day moving average is $2.41.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $42.43 million during the quarter, compared to analyst estimates of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. Research analysts anticipate that TeraWulf will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the transaction, the treasurer now owns 337,245 shares of the company’s stock, valued at $1,096,046.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 24.88% of the stock is owned by company insiders.

Institutional Trading of TeraWulf

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in TeraWulf by 17.7% during the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after buying an additional 1,764,115 shares in the last quarter. Van ECK Associates Corp boosted its position in TeraWulf by 50.8% during the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after purchasing an additional 2,268,870 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after purchasing an additional 1,372,195 shares in the last quarter. Exchange Traded Concepts LLC raised its position in TeraWulf by 37.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock valued at $4,015,000 after purchasing an additional 459,997 shares during the period. Finally, GM Advisory Group LLC lifted its stake in shares of TeraWulf by 3.3% during the fourth quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after purchasing an additional 39,617 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.