Cantor Fitzgerald Reaffirms “Overweight” Rating for TeraWulf (NASDAQ:WULF)

TeraWulf (NASDAQ:WULF)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $10.00 target price on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 123.71% from the company’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC began coverage on shares of TeraWulf in a research note on Wednesday, September 4th. They set a “buy” rating and a $6.00 price objective on the stock. Roth Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, July 2nd. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of TeraWulf in a research note on Monday, August 26th. Roth Mkm reiterated a “buy” rating and set a $6.50 target price on shares of TeraWulf in a report on Monday, July 8th. Finally, Rosenblatt Securities increased their price target on TeraWulf from $4.20 to $5.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $5.71.

TeraWulf Price Performance

WULF traded up $0.11 during trading on Thursday, reaching $4.47. 5,356,102 shares of the company’s stock were exchanged, compared to its average volume of 19,897,496. The company’s fifty day moving average price is $4.23 and its 200-day moving average price is $3.56. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $6.51.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. The company had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. As a group, analysts anticipate that TeraWulf will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC acquired a new stake in shares of TeraWulf in the first quarter valued at approximately $29,000. Amalgamated Bank increased its stake in TeraWulf by 57.7% in the 2nd quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock valued at $35,000 after buying an additional 2,912 shares during the last quarter. ARS Investment Partners LLC acquired a new position in shares of TeraWulf during the 2nd quarter worth about $44,000. Pekin Hardy Strauss Inc. acquired a new position in shares of TeraWulf during the 2nd quarter worth about $44,000. Finally, PEAK6 Investments LLC bought a new position in shares of TeraWulf in the 1st quarter valued at about $64,000. 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.