TeraWulf (NASDAQ:WULF) Price Target Raised to $6.00 at Rosenblatt Securities

TeraWulf (NASDAQ:WULF - Get Free Report) had its target price raised by research analysts at Rosenblatt Securities from $4.50 to $6.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Rosenblatt Securities' price objective suggests a potential upside of 40.85% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Jones Trading started coverage on shares of TeraWulf in a report on Monday, March 31st. They issued a "buy" rating and a $4.00 price target on the stock. Citizens Jmp raised shares of TeraWulf to a "strong-buy" rating and set a $7.00 price target on the stock in a report on Thursday, May 22nd. Finally, JMP Securities started coverage on shares of TeraWulf in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $7.89.

TeraWulf Stock Down 3.4%

Shares of NASDAQ WULF traded down $0.15 during trading on Thursday, reaching $4.26. 29,923,078 shares of the stock were exchanged, compared to its average volume of 31,377,660. The business's 50-day moving average price is $3.27 and its 200 day moving average price is $4.50. TeraWulf has a twelve month low of $2.06 and a twelve month high of $9.30. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -12.91 and a beta of 3.09.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in TeraWulf by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,469,948 shares of the company's stock worth $13,980,000 after purchasing an additional 105,997 shares during the period. Soros Fund Management LLC bought a new position in shares of TeraWulf during the fourth quarter valued at $8,632,000. Wellington Management Group LLP lifted its holdings in shares of TeraWulf by 1,760.0% during the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company's stock valued at $6,671,000 after acquiring an additional 1,115,228 shares during the period. Barclays PLC lifted its holdings in shares of TeraWulf by 419.7% during the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after acquiring an additional 343,016 shares during the period. Finally, BIT Capital GmbH lifted its holdings in shares of TeraWulf by 169.4% during the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company's stock valued at $22,503,000 after acquiring an additional 2,499,865 shares during the period. 62.49% of the stock is owned by institutional investors.

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.