TeraWulf (NASDAQ:WULF) Coverage Initiated by Analysts at Roth Mkm

Investment analysts at Roth Mkm initiated coverage on shares of TeraWulf (NASDAQ:WULF) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $6.50 price target on the stock. Roth Mkm’s target price points to a potential upside of 24.76% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Compass Point dropped their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Rosenblatt Securities initiated coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective for the company. Cantor Fitzgerald raised their price target on shares of TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, B. Riley increased their target price on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.21.

TeraWulf Stock Up 3.2 %

TeraWulf stock opened at $5.21 on Tuesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $5.37. The stock’s 50 day simple moving average is $3.03 and its two-hundred day simple moving average is $2.41.

TeraWulf (NASDAQ:WULF) last released its earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $42.43 million during the quarter, compared to analysts’ expectations of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. Sell-side analysts forecast that TeraWulf will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.88% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently modified their holdings of WULF. Price T Rowe Associates Inc. MD increased its position in TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after buying an additional 6,450 shares in the last quarter. PEAK6 Investments LLC bought a new position in TeraWulf in the 1st quarter worth $64,000. Vanguard Group Inc. increased its stake in TeraWulf by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after buying an additional 1,764,115 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of TeraWulf in the first quarter valued at about $141,000. Finally, Quantbot Technologies LP bought a new position in shares of TeraWulf in the first quarter worth about $204,000. 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.