Cantor Fitzgerald Reaffirms “Overweight” Rating for TeraWulf (NASDAQ:WULF)

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

WULF has been the subject of a number of other research reports. Oppenheimer initiated coverage on TeraWulf in a report on Tuesday, October 28th. They issued an “outperform” rating and a $20.00 target price for the company. Compass Point set a $17.00 price target on TeraWulf and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TeraWulf in a research note on Monday, December 15th. Rosenblatt Securities reiterated a “buy” rating and set a $24.00 target price on shares of TeraWulf in a research report on Tuesday, November 11th. Finally, Citizens Jmp boosted their target price on shares of TeraWulf from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TeraWulf has an average rating of “Moderate Buy” and an average price target of $18.75.

TeraWulf Price Performance

TeraWulf stock traded down $0.05 during mid-day trading on Tuesday, reaching $12.42. The company had a trading volume of 9,091,131 shares, compared to its average volume of 44,116,301. TeraWulf has a fifty-two week low of $2.06 and a fifty-two week 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. The company has a market cap of $5.20 billion, a P/E ratio of -8.76 and a beta of 3.83. The business has a fifty day simple moving average of $13.79 and a 200 day simple moving average of $9.69.

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

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella purchased 4,178 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $12.01 per share, for a total transaction of $50,177.78. Following the transaction, the director owned 266,958 shares of the company’s stock, valued at approximately $3,206,165.58. This trade represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On TeraWulf

Large investors have recently modified their holdings of the company. First Dallas Securities Inc. increased its position in shares of TeraWulf by 126.5% during the second quarter. First Dallas Securities Inc. now owns 132,500 shares of the company’s stock valued at $580,000 after acquiring an additional 74,000 shares during the last quarter. Hodges Capital Management Inc. boosted its position 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 worth $9,745,000 after purchasing an additional 3,549,479 shares during the last quarter. Thames Capital Management LLC bought a new position in TeraWulf in the 2nd quarter valued at $4,970,000. Nuveen LLC purchased a new stake in shares of TeraWulf during the 1st quarter valued at $1,770,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of TeraWulf during the 2nd quarter valued at $470,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.

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.