TeraWulf (NASDAQ:WULF) Given New $10.00 Price Target at Cantor Fitzgerald

TeraWulf (NASDAQ:WULF) had its price target lifted by investment analysts at Cantor Fitzgerald from $9.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 91.94% from the stock’s current price.

Several other brokerages have also recently weighed in on WULF. Compass Point dropped 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. Roth Capital raised TeraWulf to a “strong-buy” rating in a research note on Tuesday. Rosenblatt Securities began coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a “buy” rating and a $4.20 price objective for the company. B. Riley boosted their target price on shares of TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Roth Mkm assumed coverage on shares of TeraWulf in a report on Tuesday. They set a “buy” rating and a $6.50 price target for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.35.

TeraWulf Stock Performance

WULF opened at $5.21 on Friday. TeraWulf has a 1 year low of $0.89 and a 1 year high of $5.37. The business has a fifty day simple moving average of $3.08 and a 200 day simple moving average of $2.43.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Monday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. The business had revenue of $42.43 million for the quarter, compared to analyst estimates of $41.86 million. As a group, sell-side analysts anticipate that TeraWulf will post -0.08 EPS for the current year.

Insider Transactions at TeraWulf

In related news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.25, for a total transaction of $227,487.00. Following the sale, the treasurer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.88% of the company’s stock.

Institutional Trading of TeraWulf

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new position in shares of TeraWulf during the fourth quarter worth $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf during the 4th quarter worth $29,000. Miracle Mile Advisors LLC acquired a new position in TeraWulf in the 1st quarter worth about $29,000. Global Retirement Partners LLC bought a new position in TeraWulf in the fourth quarter valued at about $30,000. Finally, Regatta Capital Group LLC acquired a new stake in shares of TeraWulf during the fourth quarter valued at about $31,000. Institutional investors and hedge funds 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.