TeraWulf (NASDAQ:WULF) Price Target Raised to $14.50 at Rosenblatt Securities

TeraWulf (NASDAQ:WULF) had its target price upped by Rosenblatt Securities from $12.00 to $14.50 in a research report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

WULF has been the topic of several other research reports. Roth Capital lifted their price objective on shares of TeraWulf from $7.00 to $12.50 and gave the stock a “buy” rating in a research report on Friday, August 15th. JMP Securities boosted their price objective on shares of TeraWulf from $7.00 to $13.00 and gave the company a “market outperform” rating in a research note on Friday, August 15th. Northland Securities boosted their price target on shares of TeraWulf from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Compass Point started coverage on shares of TeraWulf in a research note on Monday, September 15th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of TeraWulf from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, TeraWulf has an average rating of “Buy” and a consensus price target of $11.50.

TeraWulf Stock Up 1.0%

WULF opened at $11.58 on Thursday. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day moving average is $8.71 and its 200 day moving average is $5.41. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week high of $12.27. The firm has a market capitalization of $4.72 billion, a P/E ratio of -33.09 and a beta of 3.44.

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

Insider Buying and Selling

In related news, Director Amanda Fabiano sold 4,600 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $8.64, for a total transaction of $39,744.00. Following the sale, the director directly owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. This represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. raised its stake in TeraWulf by 5.2% during the 2nd quarter. Sei Investments Co. now owns 37,529 shares of the company’s stock worth $164,000 after acquiring an additional 1,869 shares during the period. Envestnet Asset Management Inc. raised its stake in TeraWulf by 5.8% during the 2nd 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 period. Advisors Asset Management Inc. raised its stake in TeraWulf by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,767 shares of the company’s stock worth $30,000 after acquiring an additional 2,748 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in TeraWulf by 5.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 59,677 shares of the company’s stock worth $261,000 after acquiring an additional 2,905 shares during the period. Finally, Main Management ETF Advisors LLC raised its stake in TeraWulf by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 201,533 shares of the company’s stock worth $883,000 after acquiring an additional 3,276 shares during the period. Institutional investors own 62.49% of the company’s stock.

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.