TeraWulf (NASDAQ:WULF) Reaches New 1-Year High After Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF)’s share price reached a new 52-week high on Wednesday after Cantor Fitzgerald raised their price target on the stock from $7.00 to $9.00. Cantor Fitzgerald currently has an overweight rating on the stock. TeraWulf traded as high as $5.19 and last traded at $5.03, with a volume of 6827386 shares traded. The stock had previously closed at $4.80.

Several other research analysts have also commented on WULF. Compass Point cut their price objective on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. B. Riley cut their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TeraWulf currently has a consensus rating of “Buy” and an average target price of $4.49.

Insider Buying and Selling at TeraWulf

In other news, Treasurer Kenneth J. Deane sold 69,996 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,096,046.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC bought a new stake in TeraWulf during the fourth quarter worth about $27,000. Partners Capital Investment Group LLP bought a new stake in shares of TeraWulf in the 4th quarter worth approximately $29,000. Miracle Mile Advisors LLC purchased a new stake in shares of TeraWulf in the 1st quarter worth approximately $29,000. Global Retirement Partners LLC bought a new position in TeraWulf during the 4th quarter valued at approximately $30,000. Finally, Regatta Capital Group LLC bought a new stake in TeraWulf in the fourth quarter worth $31,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Stock Down 3.9 %

The business has a 50 day moving average price of $2.83 and a 200 day moving average price of $2.31.

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

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.