TeraWulf (NASDAQ:WULF) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of TeraWulf (NASDAQ:WULF) in a report published on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $5.00 price target on the stock.

WULF has been the topic of several other reports. Stifel Canada upgraded TeraWulf from a moderate buy rating to a strong-buy rating in a report on Friday, October 4th. Needham & Company LLC began coverage on TeraWulf in a research note on Wednesday, September 4th. They issued a buy rating and a $6.00 target price on the stock. B. Riley reissued a buy rating and set a $6.00 target price on shares of TeraWulf in a research note on Monday, October 7th. Roth Capital raised shares of TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $10.00 price objective on shares of TeraWulf in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $5.71.

TeraWulf Price Performance

Shares of WULF opened at $4.21 on Tuesday. The company’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $3.64. TeraWulf has a twelve month low of $0.89 and a twelve month high of $6.51.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The firm had revenue of $35.57 million for the quarter, compared to the consensus estimate of $35.73 million. On average, research analysts expect that TeraWulf will post -0.1 earnings per share for the current year.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently made changes to their positions in WULF. Point72 Asset Management L.P. bought a new position in TeraWulf during the 2nd quarter worth about $22,443,000. Hood River Capital Management LLC purchased a new stake in shares of TeraWulf in the 2nd quarter worth approximately $20,532,000. Van ECK Associates Corp boosted its stake in shares of TeraWulf by 50.8% during the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after purchasing an additional 2,268,870 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in TeraWulf during the second quarter valued at approximately $9,948,000. Finally, Duquesne Family Office LLC purchased a new position in TeraWulf during the second quarter valued at approximately $9,301,000. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

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.