TeraWulf (NASDAQ:WULF) Reaches New 52-Week High on Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF)’s stock price reached a new 52-week high during trading on Wednesday after Cantor Fitzgerald raised their price target on the stock from $7.00 to $9.00. Cantor Fitzgerald currently has an overweight rating on the stock. TeraWulf traded as high as $5.19 and last traded at $5.03, with a volume of 6827386 shares trading hands. The stock had previously closed at $4.80.

Other research analysts have also issued reports about the company. Rosenblatt Securities assumed coverage on TeraWulf in a report on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective on the stock. B. Riley decreased their price target on shares of TeraWulf from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Compass Point dropped their price objective on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, TeraWulf presently has a consensus rating of “Buy” and a consensus target price of $4.49.

Insider Activity at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.25, for a total value of $227,487.00. Following the transaction, the treasurer now directly owns 337,245 shares of the company’s stock, valued at approximately $1,096,046.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 24.88% of the stock is owned by insiders.

Institutional Investors Weigh In On TeraWulf

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company’s stock worth $30,830,000 after buying an additional 1,764,115 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of TeraWulf by 50.8% in the first quarter. Van ECK Associates Corp now owns 6,733,179 shares of the company’s stock worth $17,708,000 after acquiring an additional 2,268,870 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TeraWulf by 126.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock valued at $5,897,000 after purchasing an additional 1,372,195 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of TeraWulf by 37.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,672,844 shares of the company’s stock valued at $4,015,000 after purchasing an additional 459,997 shares during the last quarter. Finally, GM Advisory Group LLC increased its position in TeraWulf by 3.3% during the 4th quarter. GM Advisory Group LLC now owns 1,237,912 shares of the company’s stock worth $2,971,000 after purchasing an additional 39,617 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

The company’s 50 day moving average is $2.83 and its 200 day moving average is $2.31.

TeraWulf (NASDAQ:WULF) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $42.43 million during the quarter, compared to the consensus estimate of $41.86 million. TeraWulf had a negative net margin of 56.70% and a negative return on equity of 30.00%. On average, equities analysts expect that TeraWulf Inc. will post -0.09 earnings per share for the current year.

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.