Rosenblatt Securities Increases TeraWulf (NASDAQ:WULF) Price Target to $6.00

TeraWulf (NASDAQ:WULF) had its price target increased by Rosenblatt Securities from $4.50 to $6.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on WULF. JMP Securities began coverage on shares of TeraWulf in a research note on Thursday, May 22nd. They issued a “market outperform” rating and a $7.00 price target on the stock. Jones Trading started coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Citizens Jmp upgraded shares of TeraWulf to a “strong-buy” rating and set a $7.00 target price on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.89.

TeraWulf Stock Down 3.4%

Shares of TeraWulf stock opened at $4.26 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -12.91 and a beta of 3.09. TeraWulf has a 52 week low of $2.06 and a 52 week high of $9.30. The firm’s 50 day moving average is $3.30 and its two-hundred day moving average is $4.48.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $45.72 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. As a group, research analysts expect that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its position in shares of TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock worth $43,000 after acquiring an additional 3,054 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of TeraWulf during the first quarter worth $29,000. Calamos Advisors LLC acquired a new stake in shares of TeraWulf during the first quarter worth $33,000. Forum Financial Management LP acquired a new stake in shares of TeraWulf during the fourth quarter worth $68,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of TeraWulf during the first quarter worth $33,000. 62.49% of the stock is currently owned by hedge funds and other 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.