TeraWulf Inc (NASDAQ:WULF) shares rose in early trading on Monday, after the company reported upbeat first-quarter results on Friday.
Here are the key analyst insights:
- Needham analyst John Todaro reaffirmed a Buy rating, while raising the price target from $22 to $28.
- Rosenblatt Securities analyst Chris Brendler reiterated a Buy rating and price target of $27.
Check out other analyst stock ratings.
Needham: TeraWulf reported revenue of $34 million, with HPC (high-performance computing) lease revenue growing 117% sequentially to $21 million, being partially offset by a 50% decline in mining revenue, Todaro said in a note. At $2.4 million, the company’s COGS (cost of goods sold) was significantly below Needham’s estimate of $16 million, he added.
TeraWulf posted an adjusted EBITDA loss of $4.1 million, substantially below Needham’s estimate of $2.5 million and management’s pre-announced range of breakeven to $3 million, the analyst …