TeraWulf (NASDAQ:WULF) Given New $30.00 Price Target at Cantor Fitzgerald

by · The Cerbat Gem

TeraWulf (NASDAQ:WULF – Get Free Report) had its target price reduced by investment analysts at Cantor Fitzgerald from $37.00 to $30.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 137.72% from the company’s previous close.

Several other equities analysts have also commented on the stock. Needham & Company LLC increased their price objective on shares of TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. HC Wainwright restated a “buy” rating on shares of TeraWulf in a research report on Friday, August 21st. Keefe, Bruyette & Woods lowered their price target on shares of TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Citigroup assumed coverage on TeraWulf in a research report on Monday, June 29th. They issued a “buy” rating and a $36.00 price target for the company. Finally, UBS Group initiated coverage on TeraWulf in a research note on Wednesday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.52.

Read Our Latest Research Report on TeraWulf

TeraWulf Stock Performance

NASDAQ:WULF opened at $12.62 on Friday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -2.89 and a beta of 3.80. TeraWulf has a 1 year low of $10.35 and a 1 year high of $29.84. The stock’s 50 day simple moving average is $15.66 and its two-hundred day simple moving average is $19.63. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). TeraWulf had a negative net margin of 1,179.94% and a negative return on equity of 458.62%. The business had revenue of $44.77 million during the quarter, compared to analysts’ expectations of $46.00 million. During the same period last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf will post -1.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TeraWulf news, CEO Paul Prager sold 137,500 shares of TeraWulf stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,807,552 shares of the company’s stock, valued at $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Bucella acquired 6,085 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the transaction, the director directly owned 350,789 shares of the company’s stock, valued at approximately $5,188,169.31. The trade was a 1.77% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 11,968 shares of company stock worth $189,962 over the last three months. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of TeraWulf by 325.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,845,156 shares of the company’s stock worth $42,108,000 after buying an additional 2,177,134 shares during the period. Edge Wealth Management LLC boosted its holdings in TeraWulf by 90.9% during the 3rd quarter. Edge Wealth Management LLC now owns 31,500 shares of the company’s stock valued at $469,000 after acquiring an additional 15,000 shares during the period. Hardin Capital Partners LLC boosted its holdings in TeraWulf by 57.1% during the 3rd quarter. Hardin Capital Partners LLC now owns 22,000 shares of the company’s stock valued at $326,000 after acquiring an additional 8,000 shares during the period. GAMMA Investing LLC grew its position in TeraWulf by 75.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,942 shares of the company’s stock valued at $88,000 after acquiring an additional 2,555 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in TeraWulf by 1,795.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 5,383 shares of the company’s stock valued at $80,000 after acquiring an additional 5,099 shares during the last quarter. 62.49% of the stock is currently owned by institutional investors.

About TeraWulf

(Get Free Report)

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.

See Also