TeraWulf’s (WULF) Overweight Rating Reiterated at Cantor Fitzgerald

TeraWulf (NASDAQ:WULF)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They presently have a $18.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 44.89% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of TeraWulf in a research note on Tuesday, November 11th. Northland Securities set a $23.25 target price on shares of TeraWulf in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research report on Monday, December 15th. B. Riley boosted their price target on shares of TeraWulf from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Citigroup restated a “market outperform” rating on shares of TeraWulf in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.75.

TeraWulf Trading Down 0.4%

Shares of WULF traded down $0.05 during trading hours on Tuesday, hitting $12.42. 9,091,131 shares of the stock traded hands, compared to its average volume of 44,116,301. The business has a fifty day moving average of $13.79 and a 200-day moving average of $9.69. The firm has a market capitalization of $5.20 billion, a PE ratio of -8.76 and a beta of 3.83. TeraWulf has a 1-year low of $2.06 and a 1-year high of $17.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.45.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($1.09). TeraWulf had a negative net margin of 336.53% and a negative return on equity of 69.75%. The business had revenue of $50.58 million during the quarter, compared to analyst estimates of $56.27 million. The business’s quarterly revenue was up 86.9% compared to the same quarter last year. Analysts expect that TeraWulf will post -0.17 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael C. Bucella acquired 4,178 shares of TeraWulf stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $12.01 per share, with a total value of $50,177.78. Following the completion of the transaction, the director directly owned 266,958 shares in the company, valued at $3,206,165.58. This trade represents a 1.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Voloridge Investment Management LLC bought a new position in shares of TeraWulf in the 3rd quarter valued at $69,006,000. Wellington Management Group LLP boosted its stake in TeraWulf by 36,193.2% in the third quarter. Wellington Management Group LLP now owns 3,901,878 shares of the company’s stock valued at $44,559,000 after buying an additional 3,891,127 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in TeraWulf by 17,747.4% in the first quarter. Hodges Capital Management Inc. now owns 3,569,479 shares of the company’s stock valued at $9,745,000 after buying an additional 3,549,479 shares in the last quarter. Bank of America Corp DE grew its position in TeraWulf by 22.2% in the second quarter. Bank of America Corp DE now owns 14,392,299 shares of the company’s stock valued at $63,038,000 after acquiring an additional 2,617,617 shares during the last quarter. Finally, Jump Financial LLC bought a new position in TeraWulf in the third quarter valued at about $27,220,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.