TeraWulf (NASDAQ:WULF) Shares Gap Down - Time to Sell?

Shares of TeraWulf Inc. (NASDAQ:WULF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $3.21, but opened at $3.09. TeraWulf shares last traded at $3.12, with a volume of 6,020,704 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on WULF shares. B. Riley increased their price target on shares of TeraWulf from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.50 target price on shares of TeraWulf in a research note on Monday, January 13th. Northland Securities reissued an "outperform" rating and issued a $10.00 price target on shares of TeraWulf in a research report on Tuesday, December 24th. Atb Cap Markets upgraded TeraWulf to a "strong-buy" rating in a research note on Sunday, January 5th. Finally, Keefe, Bruyette & Woods started coverage on TeraWulf in a research note on Wednesday, January 8th. They set a "market perform" rating for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $9.50.

TeraWulf Stock Performance

The firm has a market capitalization of $1.26 billion, a P/E ratio of -16.40 and a beta of 2.70. The firm has a 50-day moving average of $4.43 and a 200-day moving average of $5.47.

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TeraWulf (NASDAQ:WULF - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $37.43 million. The firm's revenue was up 50.2% compared to the same quarter last year. On average, research analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of TeraWulf

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in TeraWulf by 258.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company's stock worth $11,063,000 after purchasing an additional 1,704,013 shares during the last quarter. State Street Corp boosted its stake 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 worth $29,405,000 after buying an additional 227,186 shares during the last quarter. GoalVest Advisory LLC bought a new stake in shares of TeraWulf in the fourth quarter worth $651,000. Intech Investment Management LLC purchased a new stake in TeraWulf during the third quarter valued at $340,000. Finally, Barclays PLC lifted its holdings in TeraWulf by 419.7% in the third quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after acquiring an additional 343,016 shares during the period. 62.49% of the stock is currently owned by institutional investors.

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.