TeraWulf (NASDAQ:WULF) Earns Buy Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of TeraWulf (NASDAQ:WULF) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock.

A number of other research firms also recently weighed in on WULF. B. Riley reissued a buy rating and set a $6.00 target price on shares of TeraWulf in a report on Monday. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They issued a buy rating and a $6.00 price objective for the company. Roth Capital raised shares of TeraWulf to a strong-buy rating in a report on Tuesday, July 2nd. Stifel Canada raised shares of TeraWulf from a moderate buy rating to a strong-buy rating in a report on Friday, October 4th. Finally, Roth Mkm reiterated a buy rating and issued a $6.50 price target on shares of TeraWulf in a research report on Monday, July 8th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, TeraWulf currently has a consensus rating of Buy and an average price target of $5.71.

TeraWulf Price Performance

TeraWulf stock opened at $3.93 on Tuesday. The company’s 50-day moving average price is $4.22 and its two-hundred day moving average price is $3.63. TeraWulf has a twelve month low of $0.89 and a twelve month high of $6.51.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. On average, analysts forecast that TeraWulf will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after purchasing an additional 2,912 shares during the last quarter. ARS Investment Partners LLC acquired a new stake in TeraWulf in the second quarter valued at about $44,000. Pekin Hardy Strauss Inc. acquired a new stake in TeraWulf in the second quarter valued at about $44,000. Miracle Mile Advisors LLC bought a new position in TeraWulf in the first quarter valued at about $29,000. Finally, Xponance Inc. acquired a new position in TeraWulf during the second quarter worth about $65,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.