TeraWulf (NASDAQ:WULF) Raised to Strong-Buy at Roth Capital

Roth Capital upgraded shares of TeraWulf (NASDAQ:WULF) to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. Roth Capital also issued estimates for TeraWulf’s Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at ($0.06) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at $0.12 EPS and FY2026 earnings at $0.30 EPS.

WULF has been the subject of several other reports. Rosenblatt Securities began coverage on shares of TeraWulf in a report on Tuesday, April 9th. They set a buy rating and a $4.20 price objective for the company. 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 report on Friday, June 28th. Cantor Fitzgerald raised their price objective on shares of TeraWulf from $7.00 to $9.00 and gave the stock an overweight rating in a report on Wednesday, June 26th. Roth Mkm began coverage on shares of TeraWulf in a report on Tuesday. They set a buy rating and a $6.50 price objective for the company. Finally, Compass Point decreased their price objective on shares of TeraWulf from $4.50 to $3.50 and set a buy rating for the company in a report on Thursday, March 21st. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $5.21.

TeraWulf Stock Up 3.2 %

WULF opened at $5.21 on Tuesday. The company has a fifty day simple moving average of $3.08 and a 200 day simple moving average of $2.43. TeraWulf has a twelve month low of $0.89 and a twelve month high of $5.37.

TeraWulf (NASDAQ:WULF) last released 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). The firm had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. Equities research analysts forecast that TeraWulf will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction dated Friday, June 7th. The shares were 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 directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds have recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new stake in TeraWulf in the 1st quarter valued at about $29,000. Apollon Wealth Management LLC bought a new stake in TeraWulf in the 4th quarter valued at about $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf in the 4th quarter valued at about $29,000. Global Retirement Partners LLC bought a new stake in TeraWulf in the 4th quarter valued at about $30,000. Finally, Regatta Capital Group LLC bought a new stake in TeraWulf in the 4th quarter valued at about $31,000. 62.49% of the stock is currently owned by institutional investors.

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.