Rosenblatt Securities Forecasts Strong Price Appreciation for TeraWulf (NASDAQ:WULF) Stock

TeraWulf (NASDAQ:WULF) had its price target hoisted by equities research analysts at Rosenblatt Securities from $6.00 to $10.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 17.06% from the stock’s current price.

Several other research firms have also commented on WULF. Citizens Jmp upgraded TeraWulf to a “strong-buy” rating and set a $7.00 price objective for the company in a research note on Thursday, May 22nd. Northland Securities set a $12.00 price target on TeraWulf in a research report on Thursday. JMP Securities started coverage on TeraWulf in a research report on Thursday, May 22nd. They issued a “market outperform” rating and a $7.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of TeraWulf in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $9.94.

TeraWulf Price Performance

NASDAQ:WULF opened at $8.97 on Friday. TeraWulf has a 12 month low of $2.06 and a 12 month high of $9.30. The stock has a 50 day moving average of $4.92 and a two-hundred day moving average of $4.00. The company has a current ratio of 0.66, a quick ratio of 1.90 and a debt-to-equity ratio of 2.96. The firm has a market cap of $3.52 billion, a P/E ratio of -25.63 and a beta of 3.17.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). TeraWulf had a negative return on equity of 54.98% and a negative net margin of 91.42%. The firm had revenue of $47.64 million for the quarter, compared to analysts’ expectations of $46.30 million. During the same quarter last year, the firm posted ($0.03) earnings per share. TeraWulf’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts expect that TeraWulf will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in TeraWulf by 5.2% in the second quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock valued at $164,000 after acquiring an additional 1,869 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in TeraWulf by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company’s stock valued at $181,000 after acquiring an additional 2,258 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in TeraWulf by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock valued at $30,000 after acquiring an additional 2,748 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in TeraWulf by 5.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company’s stock valued at $261,000 after acquiring an additional 2,905 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after acquiring an additional 3,054 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.