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

TeraWulf (NASDAQ:WULF) had its price target upped by equities research analysts at Cantor Fitzgerald from $7.00 to $9.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 104.08% from the stock’s current price.

Several other equities research analysts have also issued reports on WULF. Compass Point decreased their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Thursday, March 21st. B. Riley decreased their target price on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Rosenblatt Securities initiated coverage on TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $4.49.

TeraWulf Stock Performance

Shares of NASDAQ:WULF opened at $4.41 on Wednesday. The stock’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $2.31. TeraWulf has a 1-year low of $0.89 and a 1-year high of $5.19.

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

Insider Buying and Selling

In related 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 sale, the treasurer now owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TeraWulf

Several large investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC purchased a new position in shares of TeraWulf during the 4th quarter valued at $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf in the fourth quarter worth $29,000. Miracle Mile Advisors LLC bought a new stake in TeraWulf in the first quarter worth $29,000. Global Retirement Partners LLC bought a new stake in TeraWulf in the fourth quarter worth $30,000. Finally, Regatta Capital Group LLC bought a new stake in TeraWulf in the fourth quarter worth $31,000. 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.