Rosenblatt Securities Reaffirms "Buy" Rating for TeraWulf (NASDAQ:WULF)

Key Points

• Rosenblatt Securities reiterated its Buy rating on TeraWulf and kept a $27 price target, implying about 15.4% upside from the prior close.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock Buy, with only one Hold and one Sell, and the average target price is $26.67.
• TeraWulf’s latest earnings were weaker than expected, with EPS of -$1.01 versus a -$0.19 estimate and revenue of $34.01 million slightly below forecasts; CEO Paul B. Prager also sold 79,200 shares in April.

TeraWulf (NASDAQ:WULF - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $27.00 target price on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 15.43% from the company's previous close.

WULF has been the topic of several other reports. Keefe, Bruyette & Woods cut their price objective on shares of TeraWulf from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. Roth Mkm restated a "buy" rating and issued a $32.00 price target on shares of TeraWulf in a report on Friday, April 17th. Citigroup reiterated an "outperform" rating on shares of TeraWulf in a research note on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of TeraWulf in a research note on Friday, March 27th. Finally, Oppenheimer lifted their price objective on shares of TeraWulf from $20.00 to $25.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.67.

TeraWulf Price Performance

TeraWulf stock opened at $23.39 on Monday. TeraWulf has a 12-month low of $2.89 and a 12-month high of $25.76. The stock has a market capitalization of $10.18 billion, a P/E ratio of -9.43 and a beta of 3.84. The firm's 50-day moving average is $17.54 and its two-hundred day moving average is $15.15. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analysts' expectations of $34.69 million. TeraWulf had a negative return on equity of 196.13% and a negative net margin of 611.46%.The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Equities analysts predict that TeraWulf will post -0.49 earnings per share for the current year.

Insider Transactions at TeraWulf

In other news, CEO Paul B. Prager sold 79,200 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $20.62, for a total transaction of $1,633,104.00. Following the completion of the sale, the chief executive officer owned 884,320 shares of the company's stock, valued at approximately $18,234,678.40. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael C. Bucella purchased 1,665 shares of the firm's stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $15.04 per share, with a total value of $25,041.60. Following the transaction, the director directly owned 280,052 shares of the company's stock, valued at approximately $4,211,982.08. This represents a 0.60% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 13,094 shares of company stock valued at $200,392 and sold 954,200 shares valued at $16,390,854. Corporate insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of TeraWulf during the third quarter worth approximately $29,000. Vermillion Wealth Management Inc. boosted its holdings in TeraWulf by 1,191.0% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company's stock worth $30,000 after purchasing an additional 2,394 shares during the period. Solstein Capital LLC acquired a new position in TeraWulf in the fourth quarter worth $34,000. Comerica Bank boosted its holdings in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after purchasing an additional 12,370 shares during the period. Finally, First United Bank & Trust acquired a new position in TeraWulf in the first quarter worth $37,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Company Profile

TeraWulf, Inc NASDAQ: WULF is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.

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