TeraWulf (NASDAQ:WULF) Sets New 52-Week High Following Analyst Upgrade

Shares of TeraWulf Inc. (NASDAQ:WULF) 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 trading hands. The stock had previously closed at $4.80.

Other research analysts also recently issued reports about the company. Compass Point reduced their target price on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Rosenblatt Securities assumed coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 target price for the company. Finally, B. Riley lowered their price target on TeraWulf from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, April 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TeraWulf presently has an average rating of “Buy” and an average target price of $4.49.

Insider Transactions at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total transaction of $227,487.00. Following the transaction, the treasurer now owns 337,245 shares in the company, valued at approximately $1,096,046.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 bought and sold shares of WULF. Price T Rowe Associates Inc. MD grew its position in shares of TeraWulf by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,082 shares of the company’s stock valued at $119,000 after purchasing an additional 6,450 shares during the period. PEAK6 Investments LLC acquired a new stake in TeraWulf during the first quarter valued at approximately $64,000. Vanguard Group Inc. lifted 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 buying an additional 1,764,115 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of TeraWulf in the 1st quarter worth approximately $141,000. Finally, Quantbot Technologies LP bought a new stake in shares of TeraWulf in the 1st quarter worth approximately $204,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Price Performance

The firm has a 50-day moving average of $2.83 and a 200 day moving average of $2.31.

TeraWulf (NASDAQ:WULF) last issued its earnings results 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 analyst estimates of $41.86 million. TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. Equities analysts anticipate that TeraWulf Inc. will post -0.09 earnings per share for the current year.

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.