Cantor Fitzgerald Raises TeraWulf (NASDAQ:WULF) Price Target to $9.00

TeraWulf (NASDAQ:WULF) had its price objective boosted by Cantor Fitzgerald from $7.00 to $9.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Rosenblatt Securities initiated coverage on shares of TeraWulf in a report on Tuesday, April 9th. They issued a buy rating and a $4.20 target price on the stock. Compass Point reduced their target price on shares of TeraWulf from $4.50 to $3.50 and set a buy rating on the stock in a report on Thursday, March 21st. Finally, B. Riley reduced their target price on shares of TeraWulf from $4.00 to $3.00 and set a buy rating on the stock in a report on Friday, April 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $4.99.

TeraWulf Trading Up 0.9 %

TeraWulf stock opened at $4.45 on Wednesday. TeraWulf has a 52 week low of $0.89 and a 52 week high of $5.19. The firm’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.33.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $42.43 million during the quarter, compared to analysts’ expectations of $41.86 million. TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. As a group, sell-side analysts predict that TeraWulf will post -0.09 EPS for the current fiscal year.

Insider Activity

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the completion of the sale, the treasurer now owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Several hedge funds and other institutional investors have recently made changes to their positions in WULF. Van ECK Associates Corp lifted its holdings in shares of TeraWulf by 50.8% during the 1st quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock valued at $17,708,000 after acquiring an additional 2,268,870 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock valued at $30,830,000 after acquiring an additional 1,764,115 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TeraWulf by 126.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after acquiring an additional 1,372,195 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in TeraWulf by 356.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,000,000 shares of the company’s stock worth $1,260,000 after buying an additional 780,786 shares in the last quarter. Finally, Luminus Management LLC lifted its holdings in TeraWulf by 97.4% in the 3rd quarter. Luminus Management LLC now owns 1,099,393 shares of the company’s stock worth $1,385,000 after buying an additional 542,496 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

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.