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

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

WULF has been the subject of several other reports. Compass Point set a $40.00 price target on shares of TeraWulf in a research note on Monday, July 6th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. B. Riley Financial raised their target price on TeraWulf from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley boosted their target price on TeraWulf from $66.50 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of TeraWulf in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

TeraWulf Stock Performance

Shares of WULF stock opened at $19.37 on Wednesday. The firm has a 50 day moving average of $24.36 and a 200-day moving average of $18.85. The company has a market cap of $9.60 billion, a price-to-earnings ratio of -7.81 and a beta of 3.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf has a 52 week low of $4.64 and a 52 week high of $29.84.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, equities analysts forecast that TeraWulf will post -1.09 earnings per share for the current year.

Insiders Place Their Bets

In other TeraWulf news, CEO Paul B. Prager sold 166,650 shares of TeraWulf stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total transaction of $4,071,259.50. Following the completion of the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at approximately $103,808,004.86. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 520,850 shares of company stock valued at $12,221,864. 15.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WULF. Vanguard Group Inc. raised its position in TeraWulf by 37.4% in the 4th quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after buying an additional 9,162,958 shares during the last quarter. Bank of America Corp DE lifted its stake in TeraWulf by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after acquiring an additional 2,617,617 shares in the last quarter. Morgan Stanley boosted its holdings in TeraWulf by 8.1% during the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after acquiring an additional 724,286 shares during the last quarter. Geode Capital Management LLC boosted its holdings in TeraWulf by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after acquiring an additional 318,842 shares during the last quarter. Finally, State Street Corp grew its stake in shares of TeraWulf by 4.2% in the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after acquiring an additional 298,645 shares in the last quarter. 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.