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

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They currently have a $30.00 price target on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 79.64% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of TeraWulf in a research note on Wednesday, July 15th. Lucid Cap Mkts raised shares of TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Oppenheimer restated an “outperform” rating and issued a $35.00 target price on shares of TeraWulf in a report on Wednesday, May 27th. Chardan Capital reaffirmed a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.21.

TeraWulf Trading Up 1.5%

TeraWulf stock traded up $0.25 during trading on Friday, hitting $16.70. The company’s stock had a trading volume of 8,958,413 shares, compared to its average volume of 31,643,268. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -3.82 and a beta of 3.76. The stock’s fifty day moving average is $20.97 and its 200 day moving average is $19.65. TeraWulf has a 1-year low of $8.60 and a 1-year high of $29.84. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%.The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that TeraWulf will post -0.94 EPS for the current year.

Insider Activity

In other news, Director Michael C. Bucella acquired 2,860 shares of TeraWulf stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $17.47 per share, with a total value of $49,964.20. Following the purchase, the director directly owned 344,704 shares of the company’s stock, valued at approximately $6,021,978.88. This trade represents a 0.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $26.60, for a total value of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at $104,938,383.20. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in TeraWulf during the third quarter worth approximately $29,000. Vermillion Wealth Management Inc. raised its stake in shares of TeraWulf by 1,191.0% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after acquiring an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in shares of TeraWulf during the 4th quarter valued at $34,000. Comerica Bank lifted its holdings in shares of TeraWulf by 3,748.5% during the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after acquiring an additional 12,370 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in TeraWulf by 106.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock worth $36,000 after purchasing an additional 747 shares during the period. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.