TeraWulf (NASDAQ:WULF) Trading Down 5.3% – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares dropped 5.3% on Tuesday . The company traded as low as $3.28 and last traded at $3.29. Approximately 5,143,647 shares changed hands during trading, a decline of 81% from the average daily volume of 26,492,325 shares. The stock had previously closed at $3.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods started coverage on TeraWulf in a research report on Wednesday, January 8th. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research report on Monday, January 6th. Atb Cap Markets raised TeraWulf to a “strong-buy” rating in a report on Sunday, January 5th. B. Riley lifted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 target price on shares of TeraWulf in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf has an average rating of “Buy” and a consensus price target of $9.50.

TeraWulf Stock Down 4.8 %

The company has a 50 day moving average of $4.47 and a two-hundred day moving average of $5.47. The firm has a market cap of $1.27 billion, a P/E ratio of -16.58 and a beta of 2.70.

TeraWulf (NASDAQ:WULF) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business 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 business’s revenue for the quarter was up 50.2% on a year-over-year basis. Research analysts expect that TeraWulf Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WULF. Rosenberg Matthew Hamilton acquired a new stake in shares of TeraWulf during the 4th quarter valued at $32,000. FMR LLC raised its holdings in TeraWulf by 22.0% during the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock worth $37,000 after buying an additional 1,408 shares during the period. CoreCap Advisors LLC lifted its stake in TeraWulf by 67.9% during the fourth quarter. CoreCap Advisors LLC now owns 7,554 shares of the company’s stock valued at $43,000 after buying an additional 3,054 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in TeraWulf during the third quarter valued at about $47,000. Finally, Stifel Financial Corp purchased a new position in shares of TeraWulf in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

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.