Rosenblatt Securities Reaffirms “Buy” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. Rosenblatt Securities’ price target points to a potential upside of 66.85% from the stock’s current price.

Several other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research report on Wednesday, June 24th. Compass Point set a $40.00 price target on shares of TeraWulf in a report on Monday, July 6th. Citigroup started coverage on shares of TeraWulf in a report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Research cut shares of TeraWulf from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald raised their price objective on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.60.

TeraWulf Trading Down 7.2%

TeraWulf stock opened at $17.98 on Wednesday. The business has a 50 day moving average price of $24.24 and a two-hundred day moving average price of $18.90. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 33.00. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of -7.25 and a beta of 3.73. TeraWulf has a 12 month low of $4.64 and a 12 month high of $29.84.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The firm had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.TeraWulf’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, equities analysts forecast that TeraWulf will post -1.09 EPS for the current year.

Insider Activity

In other news, CEO Paul B. Prager sold 166,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company’s stock, valued at approximately $103,808,004.86. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 520,850 shares of company stock valued at $12,221,864. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of TeraWulf

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of TeraWulf by 37.4% during the fourth quarter. Vanguard Group Inc. now owns 33,643,009 shares of the company’s stock valued at $386,558,000 after acquiring an additional 9,162,958 shares during the period. Bank of America Corp DE boosted its stake in shares of TeraWulf by 22.2% in 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 purchasing an additional 2,617,617 shares in the last quarter. Morgan Stanley grew its holdings in shares of TeraWulf by 8.1% in the 4th quarter. Morgan Stanley now owns 9,641,209 shares of the company’s stock worth $110,778,000 after purchasing an additional 724,286 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of TeraWulf by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 8,377,589 shares of the company’s stock worth $96,274,000 after purchasing an additional 318,842 shares during the last quarter. Finally, State Street Corp increased its position in shares of TeraWulf by 4.2% during the 4th quarter. State Street Corp now owns 7,349,508 shares of the company’s stock worth $84,446,000 after purchasing an additional 298,645 shares in the last quarter. 62.49% of the stock is currently owned by 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.