TeraWulf (NASDAQ:WULF) Given New $31.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised TeraWulf’s price target from $30 to $31 and kept an overweight rating, implying about 31% upside from the prior close.
• TeraWulf’s latest quarterly results missed expectations, with EPS of -$1.01 versus the -$0.19 consensus and revenue of $34.01 million, slightly below estimates.
• Analyst sentiment remains broadly positive, with 12 Buy ratings out of 14 total ratings and an average target price of $26.75, even as insider trading has included both notable buying and heavier selling.

TeraWulf (NASDAQ:WULF - Get Free Report) had its price target hoisted by stock analysts at Cantor Fitzgerald from $30.00 to $31.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 31.04% from the stock's previous close.

WULF has been the subject of several other research reports. Needham & Company LLC lifted their price target on shares of TeraWulf from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday. Arete Research started coverage on shares of TeraWulf in a report on Monday, March 23rd. They set a "buy" rating and a $30.00 target price for the company. Keefe, Bruyette & Woods cut their price target on TeraWulf from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 11th. Rosenblatt Securities restated a "buy" rating and issued a $27.00 price target on shares of TeraWulf in a research report on Monday. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $41.50 price objective on shares of TeraWulf in a report on Monday, April 27th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.75.

TeraWulf Price Performance

Shares of WULF stock traded up $0.27 during trading hours on Monday, hitting $23.66. 2,141,726 shares of the company's stock were exchanged, compared to its average volume of 31,582,482. TeraWulf has a 52 week low of $3.09 and a 52 week high of $25.76. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of -9.51 and a beta of 3.84. The company has a debt-to-equity ratio of 33.00, a current ratio of 2.00 and a quick ratio of 2.00. The stock's 50-day moving average is $17.54 and its 200-day moving average is $15.15.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.82). The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $34.69 million. TeraWulf had a negative return on equity of 196.13% and a negative net margin of 611.46%.The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. As a group, research analysts forecast that TeraWulf will post -0.49 EPS for the current year.

Insider Transactions at TeraWulf

In other news, Director Michael C. Bucella purchased 3,171 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was bought at an average price of $15.78 per share, with a total value of $50,038.38. Following the acquisition, the director directly owned 270,129 shares of the company's stock, valued at approximately $4,262,635.62. This represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Patrick Fleury sold 573,586 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $16.14, for a total value of $9,257,678.04. Following the sale, the chief financial officer directly owned 3,205,000 shares in the company, valued at $51,728,700. The trade was a 15.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 13,094 shares of company stock valued at $200,392 and have sold 954,200 shares valued at $16,390,854. Insiders own 15.90% of the company's stock.

Institutional Trading of TeraWulf

Hedge funds have recently bought and sold shares of the stock. Comerica Bank increased its position in shares of TeraWulf by 3,748.5% during the first quarter. Comerica Bank now owns 12,700 shares of the company's stock worth $35,000 after acquiring an additional 12,370 shares in the last quarter. Millennium Management LLC boosted its stake in TeraWulf by 47.8% in the 1st quarter. Millennium Management LLC now owns 2,456,045 shares of the company's stock worth $6,705,000 after purchasing an additional 793,832 shares during the period. Envestnet Asset Management Inc. increased its holdings in TeraWulf by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,375 shares of the company's stock worth $181,000 after purchasing an additional 2,258 shares in the last quarter. Creative Planning increased its holdings in TeraWulf by 232.2% during the 2nd quarter. Creative Planning now owns 47,665 shares of the company's stock worth $209,000 after purchasing an additional 33,317 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of TeraWulf by 10.6% in the 2nd quarter. Franklin Resources Inc. now owns 56,684 shares of the company's stock valued at $248,000 after purchasing an additional 5,432 shares during the period. 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.

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