TeraWulf (NASDAQ:WULF) Given Buy Rating at Rosenblatt Securities

Key Points

• Rosenblatt reaffirmed a "Buy" rating on TeraWulf with a $23 price target (about 16.5% upside), and the stock carries a consensus "Moderate Buy" rating with an average target of $23.08 (12 Buys, 1 Hold, 1 Sell).
• Company raised equity—TeraWulf priced 47.4M shares at $19 for roughly $900M to fund its Kentucky data center and repay bridge debt; management reports $3.1B cash (plus a potential $250M revolver) but still ~ $5.8B total debt and issued a preliminary Q1 revenue guide of $30–35M (vs. ~ $39.8M consensus) with adjusted EBITDA $0–3M, heightening dilution and leverage concerns.
• Insider selling was material in March (CEO sold 137,500 shares; CFO sold 573,586 shares), reducing their stakes, while insiders own ~19.9% and hedge funds/institutions hold ~62.5% of the stock.

TeraWulf (NASDAQ:WULF - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock. Rosenblatt Securities' target price would indicate a potential upside of 16.54% from the company's current price.

WULF has been the subject of a number of other reports. Needham & Company LLC reiterated a "buy" rating and set a $21.00 price objective on shares of TeraWulf in a research note on Tuesday, February 3rd. Arete Research initiated coverage on TeraWulf in a research note on Monday, March 23rd. They set a "buy" rating and a $30.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on TeraWulf from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, March 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TeraWulf in a research note on Friday, March 27th. Finally, Cantor Fitzgerald boosted their price objective on TeraWulf from $24.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, TeraWulf has an average rating of "Moderate Buy" and a consensus target price of $23.08.

TeraWulf Stock Performance

Shares of TeraWulf stock traded down $1.21 during trading hours on Wednesday, reaching $19.74. 27,618,907 shares of the stock traded hands, compared to its average volume of 31,100,904. The company has a 50 day moving average price of $15.84 and a 200 day moving average price of $14.27. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -12.12 and a beta of 3.69. TeraWulf has a one year low of $2.19 and a one year high of $20.98. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 33.00.

Insiders Place Their Bets

In other news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $16.10, for a total transaction of $2,213,750.00. Following the completion of the transaction, the chief executive officer directly owned 354,200 shares in the company, valued at approximately $5,702,620. This represents a 27.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick Fleury sold 573,586 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the transaction, the chief financial officer owned 3,205,000 shares of the company's stock, valued at $51,728,700. This represents a 15.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 13,094 shares of company stock worth $200,392 and sold 737,500 shares worth $11,897,750. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently made changes to their positions in WULF. Comerica Bank grew its stake in shares of TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after buying an additional 12,370 shares in the last quarter. Millennium Management LLC grew its stake in shares of TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after buying an additional 793,832 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of TeraWulf by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after buying an additional 2,258 shares in the last quarter. Creative Planning grew its stake in shares of TeraWulf by 232.2% in the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after buying an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of TeraWulf by 10.6% in the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after buying an additional 5,432 shares in the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf News Roundup

Here are the key news stories impacting TeraWulf this week:

• Positive Sentiment: Priced upsized equity raise — TeraWulf priced 47.4M shares at $19 for gross proceeds of ~ $900M (offering expected to close April 16), providing immediate cash to fund the Kentucky data center and repay short‑term bridge debt. Read More.
• Positive Sentiment: Stronger liquidity backdrop — as of March 31 TeraWulf reported $3.1B in cash and has allocations for a revolving credit facility up to $250M (subject to documentation), which management says supports near‑term capital needs. Read More.
• Neutral Sentiment: Operational progress — company says CB‑2 and Core42 capacity are fully delivered and generating revenue, with >50% of Q1 revenue coming from contracted HPC hosting (a shift toward more stable, contracted revenue mix). Read More.
• Negative Sentiment: Revenue miss and weak near‑term guidance — preliminary Q1 revenue was guided to $30–35M (consensus ~ $39.8M) with adjusted EBITDA $0–3M, a near‑term earnings shortfall that likely pressured the stock. Read More.
• Negative Sentiment: Dilution and leverage concerns remain — the offering (plus a 30‑day underwriter option) will dilute existing holders, and the company still reports total debt of ~$5.8B versus $3.1B cash, raising investor concern about capital structure despite the new proceeds. Read More.

About TeraWulf

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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