Rosenblatt Securities Forecasts Strong Price Appreciation for TeraWulf (NASDAQ:WULF) Stock

TeraWulf (NASDAQ:WULF) had its price objective hoisted by research analysts at Rosenblatt Securities from $4.50 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 49.25% from the company’s previous close.

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

TeraWulf Stock Down 5.6%

WULF opened at $4.02 on Thursday. The business’s 50 day moving average is $3.34 and its two-hundred day moving average is $4.46. TeraWulf has a 52 week low of $2.06 and a 52 week high of $9.30. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -12.18 and a beta of 3.09.

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

Hedge Funds Weigh In On TeraWulf

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in TeraWulf by 2.3% during the first quarter. Vanguard Group Inc. now owns 23,880,134 shares of the company’s stock worth $65,193,000 after acquiring an additional 534,315 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of TeraWulf by 3.4% during the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company’s stock valued at $72,070,000 after purchasing an additional 412,877 shares during the last quarter. Geode Capital Management LLC raised its stake in TeraWulf by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company’s stock worth $43,232,000 after acquiring an additional 453,429 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TeraWulf by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company’s stock worth $30,387,000 after acquiring an additional 955,795 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock valued at $26,964,000 after buying an additional 2,028,383 shares during the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

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.