Roth Mkm Begins Coverage on TeraWulf (NASDAQ:WULF)

Equities researchers at Roth Mkm started coverage on shares of TeraWulf (NASDAQ:WULF) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $6.50 price target on the stock. Roth Mkm’s price objective indicates a potential upside of 24.76% from the stock’s current price.

Other equities analysts have also issued research reports about the company. B. Riley increased their target price on TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday. Rosenblatt Securities began coverage on TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Compass Point reduced their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their target price on TeraWulf from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, TeraWulf presently has an average rating of “Buy” and a consensus target price of $5.21.

TeraWulf Trading Up 17.1 %

Shares of NASDAQ WULF opened at $5.21 on Tuesday. TeraWulf has a 1-year low of $0.89 and a 1-year high of $5.22. The business’s 50 day moving average is $2.93 and its 200-day moving average is $2.36.

TeraWulf (NASDAQ:WULF) last announced its 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 the consensus estimate of $41.86 million. TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. On average, sell-side analysts forecast that TeraWulf will post -0.09 earnings per share for the current fiscal year.

Insider Activity at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the business’s 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 transaction, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of TeraWulf by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after buying an additional 6,450 shares during the last quarter. PEAK6 Investments LLC purchased a new position in TeraWulf in the first quarter valued at approximately $64,000. Vanguard Group Inc. lifted its stake in TeraWulf by 17.7% in the first quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after purchasing an additional 1,764,115 shares during the last quarter. SG Americas Securities LLC purchased a new position in TeraWulf in the first quarter valued at approximately $141,000. Finally, Quantbot Technologies LP purchased a new position in TeraWulf in the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.