Rosenblatt Securities Issues Pessimistic Forecast for TeraWulf (NASDAQ:WULF) Stock Price

TeraWulf (NASDAQ:WULF - Get Free Report) had its target price dropped by equities researchers at Rosenblatt Securities from $10.00 to $4.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the stock. Rosenblatt Securities' price objective would indicate a potential upside of 69.49% from the company's previous close.

A number of other research analysts have also recently issued reports on WULF. Jones Trading started coverage on TeraWulf in a research note on Monday, March 31st. They issued a "buy" rating and a $4.00 target price for the company. B. Riley increased their target price on TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Northland Securities reissued an "outperform" rating and set a $10.00 price objective on shares of TeraWulf in a research report on Tuesday, December 24th. Finally, Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a report on Wednesday, January 8th. They set a "market perform" rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $7.86.

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TeraWulf Stock Performance

NASDAQ:WULF traded down $0.02 during mid-day trading on Wednesday, hitting $2.36. The company had a trading volume of 16,414,346 shares, compared to its average volume of 27,534,699. TeraWulf has a fifty-two week low of $1.82 and a fifty-two week high of $9.30. The firm has a market cap of $903.93 million, a P/E ratio of -11.80 and a beta of 2.76. The business's fifty day moving average is $3.55 and its two-hundred day moving average is $5.27.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The company's revenue for the quarter was up 50.2% on a year-over-year basis. Equities analysts forecast that TeraWulf will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently modified their holdings of WULF. Rosenberg Matthew Hamilton bought a new position in TeraWulf in the fourth quarter valued at approximately $32,000. FMR LLC increased its holdings in TeraWulf by 22.0% during the third quarter. FMR LLC now owns 7,803 shares of the company's stock worth $37,000 after buying an additional 1,408 shares during the last quarter. Kraematon Investment Advisors Inc. bought a new stake in TeraWulf during the first quarter worth $42,000. CoreCap Advisors LLC lifted its stake in TeraWulf by 67.9% in the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company's stock valued at $43,000 after acquiring an additional 3,054 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in shares of TeraWulf in the 3rd quarter valued at about $47,000. 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.