TeraWulf (NASDAQ:WULF) Trading Down 6.5% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF)’s stock price fell 6.5% on Wednesday . The stock traded as low as $3.02 and last traded at $2.97. 6,443,242 shares traded hands during trading, a decline of 85% from the average session volume of 44,062,316 shares. The stock had previously closed at $3.17.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of TeraWulf in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 price objective on shares of TeraWulf in a research report on Monday, January 13th. B. Riley raised their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods assumed coverage on shares of TeraWulf in a research note on Wednesday, January 8th. They set a “market perform” rating for the company. Finally, Northland Securities reissued an “outperform” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TeraWulf has an average rating of “Buy” and a consensus target price of $8.64.

TeraWulf Stock Down 7.4 %

The stock has a market capitalization of $1.15 billion, a P/E ratio of -14.95 and a beta of 2.70. The stock’s 50 day moving average price is $4.83 and its 200-day moving average price is $5.51.

TeraWulf (NASDAQ:WULF) last announced its earnings results on Friday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $37.43 million. TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The firm’s revenue was up 50.2% on a year-over-year basis. Analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On TeraWulf

A number of large investors have recently added to or reduced their stakes in WULF. Senator Investment Group LP bought a new stake in shares of TeraWulf in the 4th quarter valued at about $24,371,000. Science & Technology Partners L.P. acquired a new stake in TeraWulf in the fourth quarter valued at approximately $18,606,000. BIT Capital GmbH boosted its stake in TeraWulf by 169.4% in the fourth quarter. BIT Capital GmbH now owns 3,975,768 shares of the company’s stock valued at $22,503,000 after acquiring an additional 2,499,865 shares in the last quarter. Van ECK Associates Corp grew its holdings in TeraWulf by 74.2% in the fourth quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after purchasing an additional 2,028,383 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of TeraWulf during the fourth quarter worth $10,970,000. 62.49% of the stock is currently owned by institutional investors.

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.