TeraWulf’s (WULF) Overweight Rating Reiterated at Cantor Fitzgerald

TeraWulf (NASDAQ:WULF)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $4.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 42.86% from the company’s current price.

Separately, Compass Point cut their price target on shares of TeraWulf from $4.50 to $3.50 and set a “buy” rating on the stock in a report on Thursday, March 21st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TeraWulf currently has an average rating of “Buy” and a consensus price target of $3.75.

TeraWulf Stock Performance

Shares of WULF traded up $0.10 on Thursday, reaching $2.80. 19,842,444 shares of the company’s stock traded hands, compared to its average volume of 21,052,051. The stock’s 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $1.65. TeraWulf has a 52-week low of $0.75 and a 52-week high of $4.04.

Institutional Investors Weigh In On TeraWulf

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WULF. California State Teachers Retirement System increased its stake in shares of TeraWulf by 202.0% in the first quarter. California State Teachers Retirement System now owns 26,137 shares of the company’s stock worth $25,000 after purchasing an additional 17,482 shares in the last quarter. Citigroup Inc. boosted its holdings in TeraWulf by 17,705.9% in the 2nd quarter. Citigroup Inc. now owns 15,135 shares of the company’s stock worth $26,000 after buying an additional 15,050 shares during the period. Apollon Wealth Management LLC purchased a new position in TeraWulf in the 4th quarter valued at approximately $27,000. Partners Capital Investment Group LLP bought a new stake in TeraWulf during the 4th quarter valued at $29,000. Finally, Franklin Resources Inc. purchased a new stake in shares of TeraWulf during the fourth quarter worth $29,000. 62.49% of the stock is currently owned by institutional investors.

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.