TeraWulf price target lowered to $3.50 from $4.50 at Compass Point

Compass Point analyst Joe Flynn lowered the firm’s price target on TeraWulf to $3.50 from $4.50 and keeps a Buy rating on the shares. TeraWulf reported Q4 revenue slightly ahead of the firm’s estimate and pro forma adjusted EBITDA largely inline with its estimates, the analyst tells investors. Following the report, the firm is lowering its target as the share count reflects some dilution and the firm is equitizing all potentially dilutive securities, but notes that its revised target “still provides considerable upside with the stock trading below $2/share.”