TeraWulf (NASDAQ:WULF) Shares Down 5.5% - Should You Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) fell 5.5% during trading on Tuesday . The stock traded as low as $2.37 and last traded at $2.34. 3,187,772 shares changed hands during trading, a decline of 88% from the average session volume of 27,490,102 shares. The stock had previously closed at $2.47.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WULF. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Jones Trading began coverage on TeraWulf in a research note on Monday, March 31st. They set a "buy" rating and a $4.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 price target on shares of TeraWulf in a report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a report on Wednesday, January 8th. They issued a "market perform" rating for the company. Finally, Rosenblatt Securities lowered their target price on shares of TeraWulf from $10.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $7.86.

TeraWulf Trading Up 2.2 %

The company's 50 day moving average price is $3.28 and its two-hundred day moving average price is $5.19. The stock has a market cap of $900.10 million, a P/E ratio of -11.75 and a beta of 2.76.

TeraWulf (NASDAQ:WULF - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations 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% on a year-over-year basis. On average, sell-side analysts anticipate that TeraWulf Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC increased its holdings in TeraWulf by 3.4% in the 4th quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock worth $72,070,000 after acquiring an additional 412,877 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TeraWulf by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock worth $43,232,000 after purchasing an additional 453,429 shares in the last quarter. State Street Corp raised its position in shares of TeraWulf by 3.8% during the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company's stock valued at $29,405,000 after purchasing an additional 227,186 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of TeraWulf by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after buying an additional 955,795 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in TeraWulf by 74.2% in the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company's stock worth $26,964,000 after buying an additional 2,028,383 shares during the period. Institutional investors 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.