TeraWulf (NASDAQ:WULF) Hits New 12-Month High on Analyst Upgrade

TeraWulf Inc. (NASDAQ:WULF)’s share price hit a new 52-week high during trading on Monday after Cantor Fitzgerald raised their price target on the stock from $9.00 to $10.00. Cantor Fitzgerald currently has an overweight rating on the stock. TeraWulf traded as high as $5.72 and last traded at $5.72, with a volume of 1231760 shares trading hands. The stock had previously closed at $5.58.

Other analysts also recently issued reports about the company. B. Riley upped their price objective on TeraWulf from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Compass Point decreased their price target on TeraWulf from $4.50 to $3.50 and set a “buy” rating for the company in a report on Thursday, March 21st. Rosenblatt Securities assumed coverage on shares of TeraWulf in a research note on Tuesday, April 9th. They issued a “buy” rating and a $4.20 price objective on the stock. Roth Capital upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Roth Mkm started coverage on shares of TeraWulf in a research note on Tuesday, July 2nd. They set a “buy” rating and a $6.50 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $5.35.

Insider Activity at TeraWulf

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TeraWulf by 126.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,457,169 shares of the company’s stock worth $5,897,000 after buying an additional 1,372,195 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of TeraWulf in the third quarter valued at $144,000. Miracle Mile Advisors LLC purchased a new position in shares of TeraWulf during the 1st quarter worth about $29,000. Apollon Wealth Management LLC acquired a new position in shares of TeraWulf in the 4th quarter valued at $27,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of TeraWulf during the 4th quarter worth $48,000. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Price Performance

The firm has a 50-day moving average of $3.26 and a two-hundred day moving average of $2.50.

TeraWulf (NASDAQ:WULF) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). TeraWulf had a negative return on equity of 30.00% and a negative net margin of 56.70%. The firm had revenue of $42.43 million during the quarter, compared to analysts’ expectations of $41.86 million. As a group, analysts predict that TeraWulf Inc. will post -0.08 earnings per share for the current fiscal 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.