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Citi Remains a Buy on TeraWulf Inc (WULF)

Tipranks - Tipranks - Thu Aug 13, 6:00AM CDT

Citi analyst Michael Rollins maintained a Buy rating on TeraWulf Inc today and set a price target of $31.00.

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Rollins covers the Communication Services sector, focusing on stocks such as AT&T, Charter Communications, and Cogent Comms. According to TipRanks, Rollins has an average return of 11.0% and a 59.83% success rate on recommended stocks.

Currently, the analyst consensus on TeraWulf Inc is a Strong Buy with an average price target of $37.50.

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Based on TeraWulf Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $44.77 million and a GAAP net loss of $939.92 million. In comparison, last year the company earned a revenue of $47.64 million and had a GAAP net loss of $18.37 million

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WULF in relation to earlier this year. Last month, Paul B. Prager, the CEO of WULF sold 137,500.00 shares for a total of $3,656,125.00.

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