TeraWulf (NASDAQ:WULF) Coverage Initiated at Roth Mkm

Stock analysts at Roth Mkm assumed coverage on shares of TeraWulf (NASDAQ:WULF) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $6.50 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 24.76% from the stock’s previous close.

WULF has been the subject of a number of other reports. B. Riley raised their price objective on shares of TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Rosenblatt Securities started coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Cantor Fitzgerald boosted their target price on shares of TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Compass Point dropped their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $5.21.

TeraWulf Stock Up 3.2 %

Shares of NASDAQ:WULF 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 firm’s 50-day simple moving average is $3.03 and its 200-day simple moving average is $2.41.

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

Insider Transactions at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the completion of the transaction, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently bought and sold shares of WULF. Quadrature Capital Ltd bought a new position in TeraWulf in the 3rd quarter worth approximately $144,000. Axxcess Wealth Management LLC lifted its position in shares of TeraWulf by 356.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock valued at $1,260,000 after acquiring an additional 780,786 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of TeraWulf by 37.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock worth $4,015,000 after purchasing an additional 459,997 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in TeraWulf in the 4th quarter worth about $48,000. Finally, HBW Advisory Services LLC acquired a new stake in TeraWulf during the 4th quarter worth about $34,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.