TeraWulf (NASDAQ:WULF) Price Target Raised to $24.00

TeraWulf (NASDAQ:WULF) had its price target raised by Rosenblatt Securities from $20.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of TeraWulf in a research note on Wednesday, October 8th. UBS Group set a $18.25 price objective on shares of TeraWulf in a research note on Friday, October 24th. Wall Street Zen cut shares of TeraWulf from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Compass Point set a $17.00 price objective on shares of TeraWulf and gave the company a “neutral” rating in a research note on Tuesday. Finally, Oppenheimer initiated coverage on shares of TeraWulf in a research note on Tuesday. They issued an “outperform” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TeraWulf currently has an average rating of “Moderate Buy” and an average target price of $17.67.

TeraWulf Stock Up 4.6%

Shares of WULF opened at $15.50 on Wednesday. TeraWulf has a 12 month low of $2.06 and a 12 month high of $17.05. The firm’s 50 day moving average is $11.79 and its 200-day moving average is $7.02. The stock has a market capitalization of $6.32 billion, a PE ratio of -44.29 and a beta of 3.44. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.96.

TeraWulf (NASDAQ:WULF) last announced its earnings results 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 business had revenue of $47.64 million for the quarter, compared to the consensus estimate of $46.30 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts forecast that TeraWulf will post -0.17 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, Director Amanda Fabiano sold 4,600 shares of the business’s stock in a transaction on 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 owned 40,769 shares of the company’s stock, valued at approximately $352,244.16. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.90% of the company’s stock.

Institutional Trading of TeraWulf

Several institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its stake in shares of TeraWulf by 20.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,262 shares of the company’s stock worth $151,000 after purchasing an additional 2,206 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of TeraWulf in the third quarter worth $2,047,000. Strs Ohio bought a new stake in shares of TeraWulf in the third quarter worth $286,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of TeraWulf by 53.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,019,299 shares of the company’s stock worth $11,640,000 after purchasing an additional 353,337 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of TeraWulf by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 736,261 shares of the company’s stock worth $8,909,000 after purchasing an additional 6,527 shares during the last quarter. Institutional investors own 62.49% of the company’s stock.

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.