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

Rosenblatt Securities reissued their buy rating on shares of TeraWulf (NASDAQ:WULF) in a research note released on Friday,Benzinga reports. The brokerage currently has a $30.00 price target on the stock.

WULF has been the topic of a number of other research reports. Morgan Stanley dropped their price target on TeraWulf from $72.00 to $62.50 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. B. Riley Financial raised their target price on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Northland Securities set a $30.00 target price on shares of TeraWulf in a research report on Monday, May 4th. Bank of America initiated coverage on shares of TeraWulf in a research report on Monday, June 15th. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of TeraWulf in a research report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, TeraWulf currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

TeraWulf Price Performance

Shares of NASDAQ:WULF opened at $15.64 on Friday. The company has a market capitalization of $7.80 billion, a PE ratio of -3.58 and a beta of 3.76. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a fifty day moving average of $20.76 and a 200-day moving average of $19.67. TeraWulf has a one year low of $8.60 and a one year high of $29.84.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The company had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf will post -0.94 EPS for the current fiscal year.

Insider Activity

In other TeraWulf news, Director Michael C. Bucella bought 2,860 shares of the stock in a transaction on Monday, August 17th. The shares were bought at an average price of $17.47 per share, with a total value of $49,964.20. Following the purchase, the director directly owned 344,704 shares in the company, valued at $6,021,978.88. The trade was a 0.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul B. Prager sold 137,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total value of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares in the company, valued at $104,938,383.20. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after buying an additional 12,370 shares during the period. Millennium Management LLC boosted its stake in shares of TeraWulf by 47.8% during the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company’s stock valued at $6,705,000 after buying an additional 793,832 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock worth $181,000 after acquiring an additional 2,258 shares during the last quarter. Creative Planning raised its holdings in shares of TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company’s stock worth $209,000 after acquiring an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in TeraWulf by 10.6% during the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company’s stock valued at $248,000 after purchasing an additional 5,432 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

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.