TeraWulf (NASDAQ:WULF) Price Target Raised to $6.00 at Rosenblatt Securities

TeraWulf (NASDAQ:WULF) had its price objective hoisted by Rosenblatt Securities from $4.50 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 36.05% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Jones Trading began coverage on TeraWulf in a research report on Monday, March 31st. They issued a “buy” rating and a $4.00 price objective for the company. Citizens Jmp upgraded shares of TeraWulf to a “strong-buy” rating and set a $7.00 target price for the company in a research note on Thursday, May 22nd. Finally, JMP Securities initiated coverage on shares of TeraWulf in a research report on Thursday, May 22nd. They issued a “market outperform” rating and a $7.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, TeraWulf presently has an average rating of “Buy” and an average price target of $7.89.

TeraWulf Trading Down 2.4%

Shares of WULF stock opened at $4.41 on Thursday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -13.36 and a beta of 3.09. TeraWulf has a 1-year low of $2.06 and a 1-year high of $9.30. The stock’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $4.50.

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

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC raised its position in shares of TeraWulf by 67.9% in the 4th quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after acquiring an additional 3,054 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in TeraWulf in the first quarter valued at approximately $29,000. Calamos Advisors LLC acquired a new stake in TeraWulf in the first quarter worth $33,000. Forum Financial Management LP acquired a new stake in TeraWulf in the fourth quarter worth $68,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of TeraWulf during the first quarter worth $33,000. 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.