TeraWulf (NASDAQ:WULF) Stock Price Down 8.5% – Should You Sell?

TeraWulf Inc. (NASDAQ:WULF)’s stock price dropped 8.5% on Wednesday. The stock traded as low as $12.24 and last traded at $12.0910. 4,853,731 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 31,007,236 shares. The stock had previously closed at $13.21.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WULF shares. Chardan Capital restated a “buy” rating and set a $32.00 price target on shares of TeraWulf in a research note on Wednesday, August 5th. B. Riley Financial upped their price target on TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Freedom Capital raised shares of TeraWulf to a “strong-buy” rating in a report on Tuesday, September 8th. UBS Group started coverage on shares of TeraWulf in a research report on Wednesday, September 23rd. They set a “buy” rating and a $24.00 price objective for the company. Finally, Needham & Company LLC increased their price objective on TeraWulf from $28.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.86.

TeraWulf Price Performance

The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -2.72 and a beta of 3.80. The company’s 50 day moving average is $15.89 and its 200 day moving average is $19.67. The company has a debt-to-equity ratio of 27.25, a current ratio of 0.75 and a quick ratio of 0.75.

TeraWulf (NASDAQ:WULF) last posted its earnings results on Wednesday, August 5th. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70). The firm had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $46.00 million. TeraWulf had a negative return on equity of 458.62% and a negative net margin of 1,179.94%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Research analysts forecast that TeraWulf Inc. will post -1.00 earnings per share for the current fiscal year.

Insider Activity at TeraWulf

In other TeraWulf news, CEO Paul B. Prager sold 137,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $17.06, for a total transaction of $2,345,750.00. Following the completion of the sale, the chief executive officer directly owned 3,807,552 shares in the company, valued at $64,956,837.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael C. Bucella bought 6,085 shares of TeraWulf stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $14.79 per share, for a total transaction of $89,997.15. Following the acquisition, the director directly owned 350,789 shares in the company, valued at approximately $5,188,169.31. This represents a 1.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 11,968 shares of company stock worth $189,962. 15.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WULF. BlackRock Inc. acquired a new position in shares of TeraWulf in the 2nd quarter valued at $577,805,000. Bank of America Corp DE boosted its holdings in TeraWulf by 9.2% during the first quarter. Bank of America Corp DE now owns 5,777,458 shares of the company’s stock valued at $83,369,000 after acquiring an additional 488,184 shares during the period. Jennison Associates LLC bought a new stake in TeraWulf during the 1st quarter valued at approximately $53,418,000. Engle Capital Management L.P. lifted its holdings in shares of TeraWulf by 574.3% during the first quarter. Engle Capital Management L.P. now owns 2,950,100 shares of the company’s stock worth $42,570,000 after buying an additional 2,512,600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in TeraWulf during the second quarter worth $61,962,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf, Inc is a digital infrastructure company that develops and operates energy-intensive computing facilities in the United States. The company has primarily focused on bitcoin mining, using specialized application-specific integrated circuit (ASIC) hardware and power infrastructure to support cryptocurrency production.

TeraWulf emphasizes the use of low-carbon energy sources, including nuclear and hydropower, as part of its strategy to reduce the environmental impact of its operations.