TeraWulf (NASDAQ:WULF) Stock Price Target Cut by Cantor Fitzgerald

TeraWulf (NASDAQ:WULF) had its price target lowered by Cantor Fitzgerald from $37.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 137.72% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Research lowered shares of TeraWulf from a “hold” rating to a “strong sell” rating in a report on Tuesday. Chardan Capital restated a “buy” rating and set a $32.00 target price on shares of TeraWulf in a report on Wednesday, August 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of TeraWulf in a research report on Friday, August 21st. Keefe, Bruyette & Woods dropped their target price on TeraWulf from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings downgraded TeraWulf from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and an average target price of $32.52.

TeraWulf Trading Up 9.4%

Shares of WULF opened at $12.62 on Friday. TeraWulf has a 1-year low of $10.35 and a 1-year high of $29.84. The company has a 50-day moving average of $15.66 and a 200 day moving average of $19.63. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of -2.89 and a beta of 3.80. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF) last issued its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.70). TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. The firm had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. TeraWulf’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, research analysts expect that TeraWulf will post -1.00 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael Bucella bought 6,085 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $14.79 per share, for a total transaction of $89,997.15. Following the completion of the purchase, the director directly owned 350,789 shares in the company, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter Carter sold 130,626 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $15.14, for a total value of $1,977,677.64. Following the completion of the sale, the director directly owned 229,090 shares of the company’s stock, valued at $3,468,422.60. The trade was a 36.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought a total of 11,968 shares of company stock worth $189,962 over the last three months. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. GAMMA Investing LLC grew its stake in shares of TeraWulf by 25.2% during the second quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $84,000 after acquiring an additional 681 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of TeraWulf by 106.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,447 shares of the company’s stock valued at $36,000 after purchasing an additional 747 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of TeraWulf in the 2nd quarter valued at approximately $41,000. Hamilton Wealth LLC raised its position in shares of TeraWulf by 11.4% in the 1st quarter. Hamilton Wealth LLC now owns 17,550 shares of the company’s stock valued at $253,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Little House Capital LLC boosted its stake in TeraWulf by 10.0% in the 1st quarter. Little House Capital LLC now owns 22,000 shares of the company’s stock worth $317,000 after purchasing an additional 2,000 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.