TeraWulf (NASDAQ:WULF) Stock Price Down 3.9% – Here’s Why

TeraWulf Inc. (NASDAQ:WULF) was down 3.9% during mid-day trading on Tuesday . The company traded as low as $2.62 and last traded at $2.57. Approximately 4,855,659 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 41,516,441 shares. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WULF shares. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Monday, January 6th. Rosenblatt Securities decreased their price objective on shares of TeraWulf from $10.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. Atb Cap Markets upgraded TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. Northland Securities reiterated an “outperform” rating and set a $10.00 price target on shares of TeraWulf in a research note on Tuesday, December 24th. Finally, Jones Trading began coverage on TeraWulf in a report on Monday, March 31st. They set a “buy” rating and a $4.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.86.

TeraWulf Trading Down 13.2 %

The firm has a 50-day moving average of $3.60 and a two-hundred day moving average of $5.29. The firm has a market cap of $857.97 million, a price-to-earnings ratio of -11.20 and a beta of 2.76.

TeraWulf (NASDAQ:WULF) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.43 million. TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The company’s revenue was up 50.2% compared to the same quarter last year. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WULF. RFG Advisory LLC acquired a new stake in TeraWulf during the first quarter worth about $290,000. NBC Securities Inc. bought a new stake in shares of TeraWulf in the 1st quarter worth approximately $305,000. Hardin Capital Partners LLC acquired a new stake in shares of TeraWulf during the 1st quarter worth approximately $78,000. Rhumbline Advisers increased its position in shares of TeraWulf by 5.5% during the first quarter. Rhumbline Advisers now owns 366,217 shares of the company’s stock valued at $1,000,000 after purchasing an additional 19,216 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of TeraWulf by 1,760.0% in the fourth quarter. Wellington Management Group LLP now owns 1,178,593 shares of the company’s stock valued at $6,671,000 after purchasing an additional 1,115,228 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

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.