TeraWulf's (WULF) Buy Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed its “buy” rating on TeraWulf and set a $30 price target, implying roughly 79.6% upside from the reported $16.70 share price. MarketBeat analysts overall rate the stock “Moderate Buy,” with an average target of $34.21.
• TeraWulf’s latest quarter fell well short of expectations, reporting a $1.94 per-share loss versus the $0.24 consensus estimate, while revenue declined 6% year over year to $44.77 million.
• Insider activity was mixed: Director Michael Bucella bought about $50,000 of shares, while CEO Paul Prager sold approximately $4.07 million under a pre-arranged Rule 10b5-1 plan. Institutional investors own 62.49% of the company.

TeraWulf (NASDAQ:WULF - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $30.00 target price on the stock. Rosenblatt Securities' price objective would indicate a potential upside of 79.64% from the company's current price.

A number of other equities research analysts have also recently weighed in on WULF. Northland Securities set a $30.00 price target on TeraWulf in a report on Monday, May 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TeraWulf in a research report on Wednesday, June 24th. Zacks Research raised TeraWulf from a "strong sell" rating to a "hold" rating in a report on Friday, August 7th. Chardan Capital restated a "buy" rating and issued a $32.00 price target on shares of TeraWulf in a research report on Wednesday, August 5th. Finally, HC Wainwright reiterated a "buy" rating on shares of TeraWulf in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.21.

TeraWulf Price Performance

WULF stock traded up $0.25 during trading on Friday, reaching $16.70. 8,958,413 shares of the company were exchanged, compared to its average volume of 31,643,268. The company has a market cap of $8.33 billion, a P/E ratio of -3.82 and a beta of 3.76. TeraWulf has a 52-week low of $8.60 and a 52-week high of $29.84. The stock's 50 day moving average price is $20.97 and its 200 day moving average price is $19.65. The company has a debt-to-equity ratio of 27.25, a quick ratio of 0.75 and a current ratio of 0.75.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The company had revenue of $44.77 million during the quarter, compared to analysts' expectations of $46.00 million. During the same period last year, the business posted ($0.05) earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. As a group, analysts predict that TeraWulf will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at TeraWulf

In related news, Director Michael C. Bucella purchased 3,023 shares of the company's stock in a transaction on Friday, August 14th. The stock was bought at an average price of $16.54 per share, with a total value of $50,000.42. Following the completion of the transaction, the director owned 341,844 shares of the company's stock, valued at approximately $5,654,099.76. This represents a 0.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul B. Prager sold 166,650 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the completion of the transaction, the chief executive officer directly owned 4,249,202 shares of the company's stock, valued at approximately $103,808,004.86. This trade represents a 3.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WULF. Comerica Bank boosted its stake in shares of TeraWulf by 3,748.5% during the 1st 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 last quarter. Millennium Management LLC raised its position in shares of TeraWulf by 47.8% in the first quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock valued at $6,705,000 after buying an additional 793,832 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of TeraWulf by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock valued at $181,000 after buying an additional 2,258 shares during the period. Creative Planning lifted its stake in shares of TeraWulf by 232.2% during the second quarter. Creative Planning now owns 47,665 shares of the company's stock valued at $209,000 after buying an additional 33,317 shares during the period. Finally, Franklin Resources Inc. boosted its position in TeraWulf by 10.6% during the second quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock worth $248,000 after acquiring an additional 5,432 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company's stock.

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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