TeraWulf (NASDAQ:WULF) Price Target Raised to $31.00

TeraWulf (NASDAQ:WULF) had its price objective lifted by equities researchers at Cantor Fitzgerald from $30.00 to $31.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 31.04% from the company’s current price.

A number of other analysts have also recently issued reports on WULF. Morgan Stanley restated an “overweight” rating and set a $41.50 target price on shares of TeraWulf in a research note on Monday, April 27th. Needham & Company LLC increased their price target on shares of TeraWulf from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday. Northland Securities set a $30.00 price objective on TeraWulf in a report on Monday, May 4th. Keefe, Bruyette & Woods decreased their target price on TeraWulf from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Finally, Arete Research started coverage on TeraWulf in a research note on Monday, March 23rd. They set a “buy” rating and a $30.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

TeraWulf Stock Up 1.1%

Shares of NASDAQ WULF traded up $0.27 during mid-day trading on Monday, hitting $23.66. The company had a trading volume of 2,141,726 shares, compared to its average volume of 31,582,482. TeraWulf has a one year low of $3.09 and a one year high of $25.76. The company has a market capitalization of $10.30 billion, a PE ratio of -9.51 and a beta of 3.84. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 33.00. The firm has a 50-day simple moving average of $17.54 and a two-hundred day simple moving average of $15.15.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative return on equity of 196.13% and a negative net margin of 611.46%.The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. On average, equities analysts expect that TeraWulf will post -0.49 EPS for the current year.

Insider Buying and Selling

In other TeraWulf news, CFO Patrick Fleury sold 573,586 shares of TeraWulf stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $16.14, for a total value of $9,257,678.04. Following the completion of the sale, the chief financial officer owned 3,205,000 shares in the company, valued at $51,728,700. The trade was a 15.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael C. Bucella acquired 3,171 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director directly owned 270,129 shares in the company, valued at approximately $4,262,635.62. This trade represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 13,094 shares of company stock valued at $200,392 and have sold 954,200 shares valued at $16,390,854. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TeraWulf

A number of hedge funds have recently added to or reduced their stakes in WULF. PNC Financial Services Group Inc. raised its holdings in TeraWulf by 282.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 29,539 shares of the company’s stock valued at $426,000 after acquiring an additional 21,817 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of TeraWulf during the 1st quarter worth $1,491,000. Next Capital Management LLC increased its position in shares of TeraWulf by 54.7% in the first quarter. Next Capital Management LLC now owns 16,280 shares of the company’s stock worth $235,000 after purchasing an additional 5,755 shares during the period. Little House Capital LLC raised its stake in TeraWulf by 10.0% in the first quarter. Little House Capital LLC now owns 22,000 shares of the company’s stock valued at $317,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Swiss National Bank raised its stake in TeraWulf by 2.6% in the first quarter. Swiss National Bank now owns 622,100 shares of the company’s stock valued at $8,977,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

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.