Cantor Fitzgerald Reiterates “Overweight” Rating for TeraWulf (NASDAQ:WULF)

Cantor Fitzgerald restated their overweight rating on shares of TeraWulf (NASDAQ:WULF) in a report published on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

Several other brokerages also recently issued reports on WULF. B. Riley reissued a buy rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, August 26th. Roth Mkm reaffirmed a buy rating and set a $6.50 price target on shares of TeraWulf in a report on Monday, July 8th. Roth Capital upgraded shares of TeraWulf to a strong-buy rating in a research note on Tuesday, July 2nd. Finally, Rosenblatt Securities increased their price objective on shares of TeraWulf from $4.20 to $5.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $5.71.

TeraWulf Trading Down 11.5 %

TeraWulf stock opened at $3.73 on Tuesday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51. The firm has a 50 day moving average price of $4.56 and a 200 day moving average price of $3.23.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The business had revenue of $35.57 million during the quarter, compared to analyst estimates of $35.73 million. As a group, equities research analysts anticipate that TeraWulf will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TeraWulf

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after purchasing an additional 1,764,115 shares during the last quarter. Van ECK Associates Corp grew its stake 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 worth $17,708,000 after acquiring an additional 2,268,870 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of TeraWulf in the second quarter valued at $22,443,000. Hood River Capital Management LLC bought a new position in shares of TeraWulf in the second quarter valued at $20,532,000. Finally, Driehaus Capital Management LLC bought a new position in TeraWulf during the second quarter worth $9,948,000. 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.