Roth Mkm Reiterates “Buy” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “buy” rating reissued by analysts at Roth Mkm in a research note issued to investors on Monday, Benzinga reports. They currently have a $6.50 price target on the stock. Roth Mkm’s target price suggests a potential upside of 29.22% from the stock’s current price.

WULF has been the topic of several other research reports. Rosenblatt Securities started coverage on TeraWulf in a research report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price target on the stock. Roth Capital upgraded TeraWulf to a “strong-buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald boosted their price target on TeraWulf from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Compass Point cut their price target on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Finally, B. Riley upped their price objective on TeraWulf from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TeraWulf presently has an average rating of “Buy” and an average target price of $5.35.

TeraWulf Stock Performance

TeraWulf stock opened at $5.03 on Monday. TeraWulf has a 1-year low of $0.89 and a 1-year high of $6.05. The stock’s fifty day moving average is $3.26 and its two-hundred day moving average is $2.50.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, May 13th. The company reported ($0.02) EPS 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 firm had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. As a group, equities analysts forecast that TeraWulf will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 24.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WULF. Apollon Wealth Management LLC purchased a new position in TeraWulf in the 4th quarter valued at about $27,000. Partners Capital Investment Group LLP bought a new position in shares of TeraWulf during the fourth quarter worth about $29,000. Miracle Mile Advisors LLC bought a new position in shares of TeraWulf during the first quarter worth about $29,000. Global Retirement Partners LLC bought a new position in shares of TeraWulf during the fourth quarter worth about $30,000. Finally, Regatta Capital Group LLC bought a new position in shares of TeraWulf during the fourth quarter worth about $31,000. 62.49% of the stock is owned by hedge funds and other 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.