TeraWulf (NASDAQ:WULF) Price Target Lowered to $4.00 at Rosenblatt Securities

TeraWulf (NASDAQ:WULF) had its target price reduced by analysts at Rosenblatt Securities from $10.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 76.99% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Jones Trading began coverage on TeraWulf in a report on Monday, March 31st. They issued a “buy” rating and a $4.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. Northland Securities reiterated an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, TeraWulf currently has an average rating of “Buy” and a consensus target price of $7.86.

TeraWulf Price Performance

NASDAQ WULF opened at $2.26 on Wednesday. The stock’s 50-day moving average is $3.75 and its 200-day moving average is $5.34. TeraWulf has a one year low of $1.82 and a one year high of $9.30. The firm has a market cap of $865.63 million, a P/E ratio of -11.30 and a beta of 2.76.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. Equities analysts anticipate that TeraWulf will post -0.17 EPS for the current year.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in TeraWulf by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company’s stock worth $13,980,000 after purchasing an additional 105,997 shares during the last quarter. State Street Corp increased its position in TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company’s stock worth $29,405,000 after buying an additional 227,186 shares during the period. GoalVest Advisory LLC acquired a new stake in shares of TeraWulf during the fourth quarter worth $651,000. Barclays PLC boosted its position in shares of TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock valued at $1,989,000 after acquiring an additional 343,016 shares during the period. Finally, BIT Capital GmbH grew its stake in shares of TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. 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.