TeraWulf (NASDAQ:WULF) Stock Gets Price Target Reduction from Cantor Fitzgerald

TeraWulf (NASDAQ:WULF) had its price objective cut by Cantor Fitzgerald from $37.00 to $30.00 in a report issued on Friday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the stock. Morgan Stanley lifted their price target on shares of TeraWulf from $62.50 to $65.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Weiss Ratings downgraded shares of TeraWulf from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. B. Riley Financial increased their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wells Fargo & Company initiated coverage on shares of TeraWulf in a report on Thursday, September 17th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on TeraWulf from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.52.

TeraWulf Stock Performance

WULF stock opened at $11.68 on Friday. The stock’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $19.62. TeraWulf has a 12-month low of $10.35 and a 12-month high of $29.84. The firm has a market cap of $5.83 billion, a P/E ratio of -2.67 and a beta of 3.80. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 27.25.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The business had revenue of $44.77 million during the quarter, compared to analyst estimates of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts predict that TeraWulf will post -1.00 EPS for the current year.

Insider Buying and Selling at TeraWulf

In other news, Director Michael C. Bucella purchased 6,085 shares of TeraWulf stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $14.79 per share, with a total value of $89,997.15. Following the completion of the acquisition, the director owned 350,789 shares in the company, valued at $5,188,169.31. The trade was a 1.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter E. Carter sold 130,626 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $15.14, for a total transaction of $1,977,677.64. Following the transaction, the director owned 229,090 shares of the company’s stock, valued at $3,468,422.60. This represents a 36.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 11,968 shares of company stock worth $189,962. 15.90% of the stock is owned by insiders.

Institutional Trading of TeraWulf

A number of large investors have recently modified their holdings of WULF. BlackRock Inc. acquired a new position in TeraWulf during the 2nd quarter valued at about $577,805,000. Bank of America Corp DE acquired a new stake in shares of TeraWulf in the second quarter valued at approximately $140,057,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TeraWulf in the second quarter valued at approximately $61,962,000. Jennison Associates LLC acquired a new stake in shares of TeraWulf in the first quarter valued at approximately $53,418,000. Finally, Engle Capital Management L.P. raised its holdings in shares of TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock valued at $42,570,000 after buying an additional 2,512,600 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

TeraWulf Company Profile

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.