TeraWulf (NASDAQ:WULF) Stock Price Target Cut by Rosenblatt Securities

TeraWulf (NASDAQ:WULF) had its price target reduced by Rosenblatt Securities from $30.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities‘s price target points to a potential upside of 61.73% from the stock’s previous close.

WULF has been the subject of several other research reports. Morgan Stanley boosted their price target on shares of TeraWulf from $62.50 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Northland Securities set a $22.50 price objective on shares of TeraWulf in a report on Friday. Zacks Research lowered shares of TeraWulf from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Keefe, Bruyette & Woods lowered their target price on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company assumed coverage on TeraWulf in a report on Thursday, September 17th. They issued an “overweight” rating and a $30.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.77.

TeraWulf Stock Up 8.8%

WULF traded up $1.00 on Monday, hitting $12.37. 20,609,733 shares of the company were exchanged, compared to its average volume of 33,246,934. The firm has a 50-day moving average price of $14.21 and a two-hundred day moving average price of $17.95. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25. TeraWulf has a twelve month low of $9.51 and a twelve month high of $29.84. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -3.74 and a beta of 4.00.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. TeraWulf had a positive return on equity of 336.44% and a negative net margin of 410.92%. The company had revenue of $76.23 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter last year, the company earned ($1.13) EPS. TeraWulf’s revenue for the quarter was up 50.7% compared to the same quarter last year. On average, equities analysts predict that TeraWulf will post -1.09 earnings per share for the current year.

Insider Buying and Selling at TeraWulf

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the sale, the chief executive officer owned 3,807,552 shares of the company’s stock, valued at approximately $64,956,837.12. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter Carter sold 130,626 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the sale, the director owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This represents a 36.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 11,968 shares of company stock worth $189,962 over the last three months. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of TeraWulf in the second quarter valued at approximately $577,805,000. Bank of America Corp DE purchased a new stake in shares of TeraWulf during the second quarter worth approximately $140,057,000. Jennison Associates LLC acquired a new stake in shares of TeraWulf during the first quarter worth $53,418,000. Engle Capital Management L.P. lifted its holdings in shares of TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after purchasing an additional 2,512,600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TeraWulf during the second quarter worth $61,962,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

TeraWulf Company Profile

TeraWulf, Inc develops and operates digital infrastructure, including facilities for Bitcoin mining and high-performance computing (HPC). The company focuses on locating its operations near sources of low-carbon energy and offers data center capacity designed for energy-intensive computing.

Its Lake Mariner facility in New York is a key site for its mining and data center activities. TeraWulf has also operated in Pennsylvania through the Nautilus Cryptomine facility, reflecting its history of developing energy-intensive operations in the northeastern United States.

Founded in 2021, TeraWulf was co-founded by Paul Prager, who serves as the company’s chief executive officer.