TeraWulf (NASDAQ:WULF) PT Raised to $9.00 at Cantor Fitzgerald

TeraWulf (NASDAQ:WULF) had its target price hoisted by Cantor Fitzgerald from $7.00 to $9.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 80.36% from the company’s previous close.

Other equities analysts have also issued research reports about the company. B. Riley decreased their target price on TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Rosenblatt Securities began coverage on TeraWulf in a research note on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price on the stock. Finally, Compass Point decreased their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.49.

TeraWulf Stock Performance

Shares of NASDAQ WULF traded up $0.19 during mid-day trading on Wednesday, reaching $4.99. 13,912,278 shares of the company’s stock were exchanged, compared to its average volume of 19,843,248. TeraWulf has a 52-week low of $0.89 and a 52-week high of $5.19. The company’s 50-day moving average is $2.73 and its 200-day moving average is $2.28.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts anticipate that TeraWulf will post -0.09 earnings per share for the current year.

Insider Activity

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the completion of the transaction, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.88% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in TeraWulf by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock worth $119,000 after purchasing an additional 6,450 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in TeraWulf during the first quarter worth approximately $29,000. Apollon Wealth Management LLC purchased a new stake in TeraWulf during the fourth quarter worth approximately $27,000. Delta Financial Group Inc. lifted its stake in TeraWulf by 33.6% during the first quarter. Delta Financial Group Inc. now owns 44,100 shares of the company’s stock worth $116,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Partners Capital Investment Group LLP purchased a new stake in TeraWulf during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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.