TeraWulf (NASDAQ:WULF) Price Target Raised to $6.00 at B. Riley

TeraWulf (NASDAQ:WULF) had its target price hoisted by B. Riley from $5.00 to $6.00 in a report issued on Friday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Cantor Fitzgerald lifted their target price on TeraWulf from $7.00 to $9.00 and gave the stock an overweight rating in a research report on Wednesday. Compass Point dropped their target price on shares of TeraWulf from $4.50 to $3.50 and set a buy rating for the company in a research report on Thursday, March 21st. Finally, Rosenblatt Securities started coverage on shares of TeraWulf in a research report on Tuesday, April 9th. They set a buy rating and a $4.20 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $4.99.

TeraWulf Stock Performance

NASDAQ WULF opened at $4.45 on Friday. TeraWulf has a fifty-two week low of $0.89 and a fifty-two week high of $5.19. The business has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.33.

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

Insider Activity at TeraWulf

In other TeraWulf news, Treasurer Kenneth J. Deane sold 69,996 shares of TeraWulf stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $3.25, for a total value of $227,487.00. Following the completion of the transaction, the treasurer now directly owns 337,245 shares in the company, valued at $1,096,046.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On TeraWulf

Hedge funds and other institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC acquired a new position in TeraWulf during the 4th quarter valued at about $27,000. Partners Capital Investment Group LLP bought a new stake in shares of TeraWulf during the fourth quarter valued at about $29,000. Miracle Mile Advisors LLC acquired a new stake in TeraWulf in the first quarter worth about $29,000. Global Retirement Partners LLC bought a new position in TeraWulf in the 4th quarter valued at about $30,000. Finally, Regatta Capital Group LLC acquired a new position in TeraWulf during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

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.