TeraWulf (NASDAQ:WULF) Trading Down 9.4% on Disappointing Earnings

TeraWulf Inc. (NASDAQ:WULF - Get Free Report) shares fell 9.4% on Monday following a weaker than expected earnings announcement. The stock traded as low as $3.82 and last traded at $3.80. 40,627,282 shares changed hands during trading, a decline of 13% from the average session volume of 46,852,266 shares. The stock had previously closed at $4.19.

The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). TeraWulf had a negative net margin of 41.88% and a negative return on equity of 15.91%. The business had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.43 million. The firm's revenue for the quarter was up 50.2% on a year-over-year basis.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WULF shares. Needham & Company LLC reiterated a "buy" rating and issued a $9.50 target price on shares of TeraWulf in a research report on Monday, January 13th. B. Riley boosted their price objective on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Rosenblatt Securities reissued a "buy" rating and set a $10.00 price objective on shares of TeraWulf in a research note on Monday. Keefe, Bruyette & Woods started coverage on shares of TeraWulf in a research report on Wednesday, January 8th. They set a "market perform" rating for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 target price on shares of TeraWulf in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.64.

Remove Ads

Institutional Trading of TeraWulf

Large investors have recently bought and sold shares of the company. Driehaus Capital Management LLC lifted its position in TeraWulf by 3.4% during the fourth quarter. Driehaus Capital Management LLC now owns 12,733,291 shares of the company's stock valued at $72,070,000 after purchasing an additional 412,877 shares during the period. Geode Capital Management LLC grew its position in shares of TeraWulf by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 7,636,552 shares of the company's stock valued at $43,232,000 after purchasing an additional 453,429 shares in the last quarter. State Street Corp lifted its holdings in shares of TeraWulf by 3.8% in the 3rd quarter. State Street Corp now owns 6,283,196 shares of the company's stock valued at $29,405,000 after acquiring an additional 227,186 shares during the last quarter. Dimensional Fund Advisors LP increased its position in TeraWulf by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,369,381 shares of the company's stock valued at $30,387,000 after acquiring an additional 955,795 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake 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. 62.49% of the stock is owned by institutional investors.

TeraWulf Stock Performance

The company has a market cap of $1.38 billion, a PE ratio of -17.83 and a beta of 2.70. The stock has a fifty day moving average of $5.06 and a 200-day moving average of $5.56.

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.