TeraWulf (NASDAQ:WULF) Given New $4.00 Price Target at Rosenblatt Securities

TeraWulf (NASDAQ:WULF) had its price target lowered by equities research analysts at Rosenblatt Securities from $4.50 to $4.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 32.89% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Jones Trading started coverage on shares of TeraWulf in a research note on Monday, March 31st. They issued a “buy” rating and a $4.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $9.50 price target 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 given a strong buy rating to the company. According to data from MarketBeat, TeraWulf currently has an average rating of “Buy” and an average price target of $7.86.

TeraWulf Trading Down 8.8%

NASDAQ:WULF opened at $3.01 on Monday. The company’s 50-day moving average price is $2.89 and its 200-day moving average price is $4.98. TeraWulf has a twelve month low of $1.91 and a twelve month high of $9.30. The company has a market cap of $1.15 billion, a P/E ratio of -9.12 and a beta of 3.00.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $45.72 million. TeraWulf’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, analysts expect that TeraWulf will post -0.17 earnings per share for the current year.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of TeraWulf by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company’s stock worth $13,980,000 after buying an additional 105,997 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of TeraWulf in the 4th quarter worth $8,632,000. Wellington Management Group LLP raised its stake in shares of TeraWulf by 1,760.0% in the 4th quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock worth $6,671,000 after buying an additional 1,115,228 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of TeraWulf during the fourth quarter worth $651,000. Finally, Barclays PLC raised its position in shares of TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company’s stock worth $1,989,000 after purchasing an additional 343,016 shares during the period. 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.